Gold drops below $1,220
San Francisco (Feb 11) The ounce troy of the precious metal is testing session lows in sub-$1,220 levels during the afternoon in Wall Street, extending its negative streak to the second session.
The renewed strength in the US dollar is driving Gold lower, shedding around $20 since session tops in the vicinity of $1,240/oz. The metal has accelerated its downside since it’s broken below the key $1,250 level last Friday following the upbeat results from the US Payrolls, ignoring at the same time the ongoing concerns around Greece.
Gold is now down 1.02% at 1,219.60/60.