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Berita trading
16 Apr 2015
Gold suffers moderate losses
FXStreet (Mumbai) - Gold prices are trading moderately lower on signs of revival in the US dollar ahead of the European session.
Will it sustain above USD 1200/Oz?
The metal set a session low of USD 1200 today, before inching slightly higher at USD 1202.50/Oz. The safe haven metal had rallied in the previous session after the S&P downgraded Greece. A weaker-than-expected US data also helped lift the yellow metal, which has been an under performer among the traditional safe haven assets this week.
It remains to be seen if the metal sustains above USD the 1200 mark amid signs of strength in the USD. Moreover, no major data is due for release in the European session today. Ahead in the data, we have US Trade balance and Housing data that could provide direction to the yellow metal.
Gold Technical Levels
The immediate resistance is seen at 1209.2, above which gains could be extended to 1214.04 (200-DMA). On the flip side, a break below 1200.00, could drive the metal lower to 1192.13 (50-DMA).
Will it sustain above USD 1200/Oz?
The metal set a session low of USD 1200 today, before inching slightly higher at USD 1202.50/Oz. The safe haven metal had rallied in the previous session after the S&P downgraded Greece. A weaker-than-expected US data also helped lift the yellow metal, which has been an under performer among the traditional safe haven assets this week.
It remains to be seen if the metal sustains above USD the 1200 mark amid signs of strength in the USD. Moreover, no major data is due for release in the European session today. Ahead in the data, we have US Trade balance and Housing data that could provide direction to the yellow metal.
Gold Technical Levels
The immediate resistance is seen at 1209.2, above which gains could be extended to 1214.04 (200-DMA). On the flip side, a break below 1200.00, could drive the metal lower to 1192.13 (50-DMA).