Today’s AM LBMA Gold Price was USD 1,201.90, EUR 1,133.49 and GBP 820.58 per ounce.Yesterday’s AM LBMA Gold Price was USD 1,196.00, EUR 1,113.33 and GBP 808.49 per ounce. For the week, gold is headed for a slightly higher close in dollars and strong gains in euros, pounds and other currencies (see charts). Gold fell 0.67 percent or $8.10 and closed at $1,195.10 an ounce yesterday, while silver slipped 1.94 percent or $0.32 closing at $16.20 an ounce. Gold in US Dollars - 5 Days Gold prices in Singapore reached $1,194.10 an ounce near the end of day trading, after reaching a low yesterday of $1,192.30 per ounce. Gold in London suddenly surged above the key $1,200 level on no breaking news this morning. It was likely a combination of traders going long before the weekend and a short covering rally after recent weakness. Gold regained ground despite a strengthening US dollar. The U.S. dollar is hovering at a three week high against other currencies. Gold Technical Levels The metal has an immediate resistance at 1205.78 (5DMA) and 1210 levels. Meanwhile, support stands at 1195 (20DMA) levels below which doors could open for 1193.41 (50DMA) levels. Gold in Euro - 5 Days The U.S. Fed minutes released this week were as obtuse and unclear as ever and as usual investors are left scratching their heads as to when U.S. interest rates will be raised for the first time in many years. The economic data from the U.S. economy is so mixed that its still a guessing game. As we said yesterday, the Fed talks a good hawkish talk but has yet to walk the hawkish walk. The Fed knows that markets and a fragile, debt laden U.S. economy will struggle with even a small rise in interest rates. Hence all the talk and the very little action. As one Twitter correspondent said the Fed cannot “do anything but kabuki and pray the market doesn't catch wind of no bullets left to fire.” Gold in British Pounds - 5 Days The monetary gun is shot and they are out of ammo with little options should we have a new recession or a new financial crisis - both of which seem increasingly likely. Comex U.S. gold for June delivery remained unchanged at $1,193.90 an ounce. Chinese demand has waned a bit as premiums for physical gold at the Shanghai Gold Exchange were $1-$2 an ounce over the global spot benchmark today. Gold in late European trading is up 0.64 percent or $1,202.14. Silver is $16.51 or up 1.98 percent and platinum is at $1,166.18 or up 0.95 percent. Gold is up 3.1 per cent in euro terms this week and 2.2 per cent in sterling terms. Astute investors continue to dollar, pound and euro cost average into an allocation to gold. Breaking News and Award Winning Research Here