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9 Apr 2015
Gold trades at USD 1200/Oz
FXStreet (Mumbai) - Gold prices recovered losses to trade at USD 1200/Oz ahead of the data in the US, which is expected to show a rise in the initial jobless claims in the last week.
USD pares gains, Gold recovers losses
The yellow metal recovered from the low of USD 1192.5/Oz, tracking the USD index, which fell from the high of 98.71 to trade at 98.36 ahead of the US data. Meanwhile, minor losses in the major US index futures are also supporting the yellow metal.
Investors now await, the data in the US which could show weekly initial jobless claims rose to 285K from 268K in the previous week.
Gold Technical Levels
The immediate resistance is seen at 1205.00, above which gains could be extended to 1213.80 (100-DMA). On the flip side, a break below 1194.80 (50-DMA) could drive the prices lower to 1180.00.
USD pares gains, Gold recovers losses
The yellow metal recovered from the low of USD 1192.5/Oz, tracking the USD index, which fell from the high of 98.71 to trade at 98.36 ahead of the US data. Meanwhile, minor losses in the major US index futures are also supporting the yellow metal.
Investors now await, the data in the US which could show weekly initial jobless claims rose to 285K from 268K in the previous week.
Gold Technical Levels
The immediate resistance is seen at 1205.00, above which gains could be extended to 1213.80 (100-DMA). On the flip side, a break below 1194.80 (50-DMA) could drive the prices lower to 1180.00.