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21 Apr 2015
Gold rises to USD 1200/Oz
FXStreet (Mumbai) - Gold prices clocked a session high of USD 1200.1/Oz levels on Tuesday, after having struggled since the Asian session on the back of a stronger US dollar.
Gold: Stuck at hourly 50-MA
The metal recovered from the low of USD 1192.9/Oz levels, although gains are being capped at the hourly 50-MA located at USD 1200.08 levels. The broader gains are still being capped by the USD index, which trades 0.21% higher at 98.36 levels. However, the USD index has given up part of it gains ahead of the US session.
Meanwhile, concerns over the lack of an agreement on economic reforms for bailout funds between Greece and its creditors continues to support the safe haven metal.
Gold Technical Levels
The immediate resistance is located at 1200.23 (hourly 100-MA), above which gains could be extended to the resistance zone of 1208-1210. On the flip side, a break below 1191.56 (50-DMA), under which losses could be extended to 1183.7 (Apr. 14 low).
Gold: Stuck at hourly 50-MA
The metal recovered from the low of USD 1192.9/Oz levels, although gains are being capped at the hourly 50-MA located at USD 1200.08 levels. The broader gains are still being capped by the USD index, which trades 0.21% higher at 98.36 levels. However, the USD index has given up part of it gains ahead of the US session.
Meanwhile, concerns over the lack of an agreement on economic reforms for bailout funds between Greece and its creditors continues to support the safe haven metal.
Gold Technical Levels
The immediate resistance is located at 1200.23 (hourly 100-MA), above which gains could be extended to the resistance zone of 1208-1210. On the flip side, a break below 1191.56 (50-DMA), under which losses could be extended to 1183.7 (Apr. 14 low).