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Gold struggles near $1,200

FXStreet (Edinburgh) - The precious metal is trading slightly lower on Thursday, currently hovering over the psychological $1,200-an-ounce handle.

Gold wobbles on US data, Greece

The uncertainty around Greece and the likeliness that the country could leave the euro area in the upcoming weeks have sparked the current resilient sentiment amongst traders, helping Gold to gyrate around the $1,200 neighbourhood.

In another direction, Gold traders remain vigilant on the US data releases, in positive correlation with the timing of a rates lift-off by the Fed.

Gold key levels

The metal is now losing 0.30% at $1,198.94 and a breach of $1,184.00 (low Apr.14) would target $1,180.50 (low Apr.1) en route to $1,178.20 (low Mar.31). On the upside, the immediate resistance lines up at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3).

GBP/USD: Bears territory ahead of psychological 1.5000

GBP/USD is currently trading at 1.4936 with a high of 1.4942 and a low of 1.4811.
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Economy is likely to be weaker than BoC expects - Nomura

Research analyst Charles St-Arnaud at Nomura explained that they believe that the economy is likely to be weaker than the BoC expects.
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