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2 Sep 2015
Gold in red near $1,130
FXStreet (Edinburgh) - Prices for the yellow metal are correcting lower on Wednesday, slipping to the $1,130 area per ounce so far.
Gold weaker on USD
The re-emergence of the buying sentiment around the US dollar has been weighing on the USD-denominated assets throughout the session, sending Gold to the $1,130 area.
In addition, a better tone from Chinese stocks has spread into European bourses and US equities, collaborating with the downside pressure on Gold prices.
Gold key levels
As of writing Gold is down 0.06% at $1,132.90 with the next support at $1,123.10 (low Aug.28) followed by $1,116.90 (low Aug.26) and then $1,108.50 (low Aug.18).
On the upside, a surpass of $1,147.30 (high Sep.1) would expose $1,156.30 (high Aug.25).
Gold weaker on USD
The re-emergence of the buying sentiment around the US dollar has been weighing on the USD-denominated assets throughout the session, sending Gold to the $1,130 area.
In addition, a better tone from Chinese stocks has spread into European bourses and US equities, collaborating with the downside pressure on Gold prices.
Gold key levels
As of writing Gold is down 0.06% at $1,132.90 with the next support at $1,123.10 (low Aug.28) followed by $1,116.90 (low Aug.26) and then $1,108.50 (low Aug.18).
On the upside, a surpass of $1,147.30 (high Sep.1) would expose $1,156.30 (high Aug.25).