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14 Apr 2015
Gold hits session low of USD 1190/Oz
FXStreet (Mumbai) - Gold prices hit a low of USD 1190/Oz, before recovering to its 50-DMA located at USD 1192.77/Oz.
Weakest safe haven asset
The metal is the weakest safe haven asset today, trading almost 0.50% lower today. Meanwhile, the Japanese Yen is up 0.33%, while the Treasuries have also extended gains at the onset of the European session.
The sudden from USD 1195 to USD 1190 may be due to European traders entering the market. Moreover, the move cannot be attributed to any major economic releases or sharp movement in the USD index.
Gold Technical Levels
Prices have an immediate support located at 1190.00, under which losses could be extended to 1185. On the other hand, a rise above 1200.00, could see the metal re-test 1207-1209 levels.
Weakest safe haven asset
The metal is the weakest safe haven asset today, trading almost 0.50% lower today. Meanwhile, the Japanese Yen is up 0.33%, while the Treasuries have also extended gains at the onset of the European session.
The sudden from USD 1195 to USD 1190 may be due to European traders entering the market. Moreover, the move cannot be attributed to any major economic releases or sharp movement in the USD index.
Gold Technical Levels
Prices have an immediate support located at 1190.00, under which losses could be extended to 1185. On the other hand, a rise above 1200.00, could see the metal re-test 1207-1209 levels.