Otmane El Rhazi from
The Bullion Desk.
- Gold retesting the key psychological $1,200 per ounce mark, shrugging off near-two year highs in the dollar.
- Spot gold was last seen at $1,198.80/1,199.50 per ounce, up $2.80 on Thursday’s close, with the metal trading within a $7 intraday range.
- Near-two year highs in the dollar at 1.2250 against the euro is weighing on sentiment, although largely gold appears to be ignoring the gains.
- Trading expected to remain subdued however, in light of few macroeconomic announcements and as the year-end holiday season approaches.
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