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25 Feb 2015
Gold firmer above $1,200
FXStreet (Edinburgh) - The ounce troy of the yellow metal is advancing beyond the key barrier at $1,200 on Wednesday, although lower than session highs around $1,212.
Gold on a better mood following Yellen
Both testimonies by Chairwoman Janet Yellen proved to be on the dovish side, helping the metal to recover some ground lost in recent sessions and clinching the $1,200 handle.
The renewed weakness around the US dollar is another factor helping to prop up the current upbeat tone surrounding Gold and other metals.
Gold key levels
At the moment the metal is advancing 0.52% at $1,203.40 with the next resistance at $1,211.70 (high Feb.25) followed by $1,222.90 (high Feb.19) and finally $1,236.40 (high Feb.16). On the downside, a break below $1,190.50 (low Feb.24) would expose $1,167.30 (low Jan.2) and then $1,141.70 (low Dec.2).
Gold on a better mood following Yellen
Both testimonies by Chairwoman Janet Yellen proved to be on the dovish side, helping the metal to recover some ground lost in recent sessions and clinching the $1,200 handle.
The renewed weakness around the US dollar is another factor helping to prop up the current upbeat tone surrounding Gold and other metals.
Gold key levels
At the moment the metal is advancing 0.52% at $1,203.40 with the next resistance at $1,211.70 (high Feb.25) followed by $1,222.90 (high Feb.19) and finally $1,236.40 (high Feb.16). On the downside, a break below $1,190.50 (low Feb.24) would expose $1,167.30 (low Jan.2) and then $1,141.70 (low Dec.2).