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4 May 2015
Gold prints fresh daily high at USD 1191.8/Oz
FXStreet (Mumbai) - Gold prices rose to a fresh daily high of USD 1191/Oz in the early US session as the USD index erase gains and fell into losses.
Gold testing hourly 200-MA
The metal is currently trading around its hourly 200-MA located at USD 1191.8/Oz. Prices received a boost from the drop in the USD index ahead of the factory orders data. The USD index fell from a high of 95.78 to trade at 95.38 levels.
The metal may extend gains over and above its hourly 200-MA in case the USD index extends losses on a weaker-than-expected factory orders print.
Gold Technical Levels
The immediate resistance is seen at 1192.00, above which gains could be extended to 1200.00. On the other hand, a break below 1186.5 could push the metal back to 1180.1.
Gold testing hourly 200-MA
The metal is currently trading around its hourly 200-MA located at USD 1191.8/Oz. Prices received a boost from the drop in the USD index ahead of the factory orders data. The USD index fell from a high of 95.78 to trade at 95.38 levels.
The metal may extend gains over and above its hourly 200-MA in case the USD index extends losses on a weaker-than-expected factory orders print.
Gold Technical Levels
The immediate resistance is seen at 1192.00, above which gains could be extended to 1200.00. On the other hand, a break below 1186.5 could push the metal back to 1180.1.