30 Apr 2015
Gold consolidates around USD 1205/Oz
FXStreet (Mumbai) - Gold prices trade in the sideways manner around USD 1205/Oz levels ahead of the data in the US which could show a drop in the weekly jobless claims and an uptick in the personal spending.
Gold: bounced-off from 5-DMA
A moderate strength in the USD index during the Asian session had pushed the metal lower to USD 1200.00. However, prices eventually bounced-off from the 5-DMA at USD 1200.00 on the back of a weaker USD.
The investors now await the data in the US weekly claims and personal income report, which the Fed actively tracks and considers while deciding its interest rate forward guidance.
Gold Technical Levels
The immediate resistance is seen at 1209.49 (200-DMA), above which gains could be extended to 1215.69 (100-DMA). On the flip side, a break below 1200.00, under which prices could dip to 1196.40 (10-DMA).
Gold: bounced-off from 5-DMA
A moderate strength in the USD index during the Asian session had pushed the metal lower to USD 1200.00. However, prices eventually bounced-off from the 5-DMA at USD 1200.00 on the back of a weaker USD.
The investors now await the data in the US weekly claims and personal income report, which the Fed actively tracks and considers while deciding its interest rate forward guidance.
Gold Technical Levels
The immediate resistance is seen at 1209.49 (200-DMA), above which gains could be extended to 1215.69 (100-DMA). On the flip side, a break below 1200.00, under which prices could dip to 1196.40 (10-DMA).