Gold Steady Under $1200

Gold eased early on Wednesday but managed to retain most of its overnight gains to trade close to the key $1,200-an-ounce level on a weaker dollar.

Spot gold had slipped 0.3 percent to $1,194.20 an ounce by 0027 GMT. The metal jumped to a near three-week high of $1,204.70 on Tuesday and closed up about 1 percent.

Gold got a boost from a softer dollar, which fell against the euro on a better than expected survey of German sentiment.  Investors are eyeing the Bank of Japan’s policy meeting later today to see how the greenback and yen will be impacted.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.