20 Feb 2015
Gold flattish ahead of Europe open, Greece-EU Meeting in focus
FXStreet (Mumbai) - Gold prices on Comex trades almost flat heading into European opening bells, recovering from session lows, and continues to trade range bound awaiting fresh cues from Greece-EU debt talks due later in the day.
Gold rises from 1205.90 levels
Currently, gold trades flat at 1208 levels, having previously posted fresh session highs at 1209.60 levels some time ago. Gold prices continue to trade choppy, gradually inching towards session highs as traders refrain to create fresh positions ahead of Euro group meeting in Brussels, where Greece is renegotiating with Euro group to resolve a debt crisis.
Moreover, lack of physical demand as most Asian markets remain closed on a week-long Lunar New Year holiday has also kept gold prices in a tight band.
Gold Technical Levels
The metal has an immediate resistance at 1211 (5-DMA) and 1218.43 (10-DMA) levels. Meanwhile, support stands at 1200 levels below which doors could open for 1191 levels.
Gold rises from 1205.90 levels
Currently, gold trades flat at 1208 levels, having previously posted fresh session highs at 1209.60 levels some time ago. Gold prices continue to trade choppy, gradually inching towards session highs as traders refrain to create fresh positions ahead of Euro group meeting in Brussels, where Greece is renegotiating with Euro group to resolve a debt crisis.
Moreover, lack of physical demand as most Asian markets remain closed on a week-long Lunar New Year holiday has also kept gold prices in a tight band.
Gold Technical Levels
The metal has an immediate resistance at 1211 (5-DMA) and 1218.43 (10-DMA) levels. Meanwhile, support stands at 1200 levels below which doors could open for 1191 levels.