28 Apr 2015
Gold strengthens in the US session
FXStreet (Mumbai) - Gold prices advanced in the US session to a high of USD 1206.9/Oz on signs of weakness in the major US equity indices and losses in the USD index.
Gold revisiting previous session high
Prices inched closer to the previous session’s high of USD 1207.2 after having traded in the range of USD 1200-1203 throughout the European session. The metal is being supported by speculations that the US Federal Reserve would delay the interest rate hike to late 2015 or early 2016 as opposed to the previous expectation of the mid-2015 rate hike.
Ahead in the day, the metal could be influenced by the US consumer confidence data and the sentiment in the US stock markets.
Gold Technical Levels
The immediate resistance is seen at 1209.94, above which gains could be extended to 1215.20. On the flip side, a break below 1200.00 could drive the prices lower to 1195.30 (10-DMA).
Gold revisiting previous session high
Prices inched closer to the previous session’s high of USD 1207.2 after having traded in the range of USD 1200-1203 throughout the European session. The metal is being supported by speculations that the US Federal Reserve would delay the interest rate hike to late 2015 or early 2016 as opposed to the previous expectation of the mid-2015 rate hike.
Ahead in the day, the metal could be influenced by the US consumer confidence data and the sentiment in the US stock markets.
Gold Technical Levels
The immediate resistance is seen at 1209.94, above which gains could be extended to 1215.20. On the flip side, a break below 1200.00 could drive the prices lower to 1195.30 (10-DMA).