Spot Gold picks up from 4-week low as Dollar loses strength

By IBTimes Staff Reporter | January 28 2010 4:16 AM

FXstreet.com (Barcelona) - Gold prices are piking up during Early European session, As Dollar strength fades, and the yellow metal reaches levels at $1,093 resistance area after bouncing from a 4-week low at 1,081 during Asian session.

Sponsorship Link

XAU/USD advance has been fuelled by recent Dollar pullback, The GBP/USD has rallied 140 pips on the day so far, reaching session high at 1.6275 after bouncing at 1.6135 session low, and the EUR/USD rebound from 6-month low at 1.3935 has extended to 1.4050 session high.

AUD/USD has picked up on Asian session, getting back Wednesday's losses and pair's bounce from 4-week low at 0,8910 reached Wednesday's high at 0.9045 which so far remains intact, as the Aussie quotes at 0.9030 at the moment of writing. Resistance levels lie at 0.9045 and 0.9085/95. Support levels are 0.8995/00 and 0.8940/45.

.