16 Jun 2015
Gold awaits US housing data
FXStreet (Mumbai) - Gold prices trade moderately weak at USD 1182.80/Oz ahead of the data in the US, which could show US housing starts and building permits slowed in April.
Gold: fails to strengthen on Greek crisis
The metal failed to strengthen amid Greek deal impasse throughout the European session today. Other traditional safe haven assets like the Japanese Yen, Swiss Franc, US Treasuries, and the German Bunds managed to strengthen.
However, the yellow metal could not strengthen as investors prefer to stay on the sidelines ahead of the FOMC rate decision due tomorrow.
Gold Technical Levels
The immediate resistance is located at 1192.96 (50-DMA), above which the pair could target 1200.00. On the flip side, a break below 1183.6 (5-DMA) could push prices lower to 1172.6.
Gold: fails to strengthen on Greek crisis
The metal failed to strengthen amid Greek deal impasse throughout the European session today. Other traditional safe haven assets like the Japanese Yen, Swiss Franc, US Treasuries, and the German Bunds managed to strengthen.
However, the yellow metal could not strengthen as investors prefer to stay on the sidelines ahead of the FOMC rate decision due tomorrow.
Gold Technical Levels
The immediate resistance is located at 1192.96 (50-DMA), above which the pair could target 1200.00. On the flip side, a break below 1183.6 (5-DMA) could push prices lower to 1172.6.