30 Apr 2015
Gold keeps losses near $ 1202
FXStreet (Mumbai) - Gold prices on Comex remained in red in the European session, bouncing-off a brief dip below 1200 threshold as the traders remain uncertain over the recent FOMC statement while a weak US dollar fails to lift prices.
Gold rises from 1199.40
Currently, gold trades -0.64% lower at 1202.20 levels, having recovered from 1199.40 session lows. Gold fails to regain strength and languishes at lower levels as traders seems to be unsatisfied with the latest Fed statement, which failed to offer any hints about the planned rate hike in the US.
The dollar index also recovered partial losses and now trades at 94.90, having previously posted fresh two month lows at 94.48 earlier this session.
Markets now await US economic releases viz., unemployment claims, personal spending, Core PCE price index and Chicago PMI data for further USD moves.
Gold Technical Levels
The metal has an immediate resistance at 1210 and 1215 levels. Meanwhile, support stands at 1200 below which doors could open for 1194 levels.
Gold rises from 1199.40
Currently, gold trades -0.64% lower at 1202.20 levels, having recovered from 1199.40 session lows. Gold fails to regain strength and languishes at lower levels as traders seems to be unsatisfied with the latest Fed statement, which failed to offer any hints about the planned rate hike in the US.
The dollar index also recovered partial losses and now trades at 94.90, having previously posted fresh two month lows at 94.48 earlier this session.
Markets now await US economic releases viz., unemployment claims, personal spending, Core PCE price index and Chicago PMI data for further USD moves.
Gold Technical Levels
The metal has an immediate resistance at 1210 and 1215 levels. Meanwhile, support stands at 1200 below which doors could open for 1194 levels.