FXStreet (Edinburgh) – The troy ounce of the precious metal is posting modest losses today, currently hovering over the $1,160 level.
Gold looks to Greece
The yellow metal has managed to revert the significant drop earlier this week, although the recovery seems to have lost momentum around $1,165.
Increasing unease following the lack of progress in the EU-Greece debt talks and the recent slump in the Chinese stock markets have failed to ignite a stronger rebound in Gold prices.
Gold levels to watch
At the moment Gold is losing 0.36% at $1,159.30 and a break below $1,147.30 (low Jul7) would aim for $1,145.40 (low Mar.18) and finally $1,142.20 (2015 low Mar.17). On the upside, the initial resistance lines up at $1,174.88 (high Jul.6) followed by $1,178.70 (high Jun.26) and then $1,188.20 (high Jun.29).
(Market News Provided by FXstreet)