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Gold firmer as dollar retreats, but vulnerable to downside

Reuters  |  LONDON 

By Eric OnstadLONDON (Reuters) - Gold prices ticked higher on Friday as the dollar retreated, but it was vulnerable to further losses ahead of key U.S. economic data later in the day and an ECB meeting next week."Gold is slowly recovering from its weakness overnight now that the dollar/yen pulled back. The yen has been and continues to be a key driver," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen."But overall the charts don't look healthy. We took out the $1,215 level in gold last week and that's raised the potential of a deeper correction," he said, adding that the ...

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First Published: Fri, July 14 2017. 18:09 IST
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