30 Apr 2015
Gold sees moderate weakness
FXStreet (Mumbai) - Gold prices weakened moderately to a low of USD 1200.60 during the Asian session on Thursday after having failed to sustain gains above its 200-DMA located at 1209.48 in the previous session.
Gold: Awaits US data
The Fed statement released on Wednesday failed to provide any major surprise. Consequently, the investors now await the weekly jobless claims data in the US due for release later today. The Fed statement showed yesterday that the policy makers are optimistic about job growth in the future. Thus, the weekly claims data is likely to influence the metal.
Gold Technical Levels
Gold currently trades at USD 1203/Oz. The immediate resistance is located at 1209.47 (200-DMA) and 1215.66 (100-DMA). On the flip side, a break below 1200.00 could drive the metal lower to 1189.71 (50-DMA).
Gold: Awaits US data
The Fed statement released on Wednesday failed to provide any major surprise. Consequently, the investors now await the weekly jobless claims data in the US due for release later today. The Fed statement showed yesterday that the policy makers are optimistic about job growth in the future. Thus, the weekly claims data is likely to influence the metal.
Gold Technical Levels
Gold currently trades at USD 1203/Oz. The immediate resistance is located at 1209.47 (200-DMA) and 1215.66 (100-DMA). On the flip side, a break below 1200.00 could drive the metal lower to 1189.71 (50-DMA).