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Gold Analysis: Eyes $ 1200 amid stronger USD, equities

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) ended a 2-day climb and dropped on Friday from near $ 1240 mark, booking the first weekly loss in more than a month, as the resurgence of risk-on environment combined with broad USD strength underpinned the precious metal. However, the downside remained capped on the back of dwindling bets of further Fed rates rises this year and also as gold to oil ratio hit record-highs last week. Data-wise, the upbeat US CPI figures also added to the positive sentiment

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