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14 May 2015
Gold moderately lower ahead of US data
FXStreet (Mumbai) - Gold prices witnessed moderate weakness as they fell from the daily high of USD 1219.1 to trade at USD 1214.9/Oz.
US data awaited
The investors await the US data, which is likely to show the initial claims in the last week rose to 275K from the previous week’s print of 265K. The jobless claims have held near 15-year low for the last two weeks. The investors could ditch the yellow metal in case the jobless claims remain near 15-year low. Till then, the movement in the USD index and the Treasury yields could continue to influence Gold prices.
Gold Technical Levels
The immediate support is located at 1210.40 (100-DMA) and 1207.22 (200-DMA). On the other hand, immediate resistance is located at 1219.2 and 1224.4.
US data awaited
The investors await the US data, which is likely to show the initial claims in the last week rose to 275K from the previous week’s print of 265K. The jobless claims have held near 15-year low for the last two weeks. The investors could ditch the yellow metal in case the jobless claims remain near 15-year low. Till then, the movement in the USD index and the Treasury yields could continue to influence Gold prices.
Gold Technical Levels
The immediate support is located at 1210.40 (100-DMA) and 1207.22 (200-DMA). On the other hand, immediate resistance is located at 1219.2 and 1224.4.