20 Mar 2015
Gold at session high
FXStreet (Mumbai) - Gold prices rose to a session high of USD 1175/Oz levels on the back of a broad based weakness in the US dollar ahead of the US session.
Gold gains as USD declines
The metal recovered from the low of USD 1168.8/Oz levels to trade at USD 1175/Oz levels, tracking the weakness in the US dollar. The USD index retreated 0.45% to trade juts below 99.00 levels. However, the strength in the major equity markets in Europe may have capped gains in the yellow metal to some extent. Gold prices could extend gains if the USD continues to see losses ahead of the weekend.
Gold Technical Levels
The immediate support is located at 1168.8, under which losses could be extended to 1164.20 (5-DMA). On the flip side, resistance is seen at 1177.8 and 1190.9 levels.
Gold gains as USD declines
The metal recovered from the low of USD 1168.8/Oz levels to trade at USD 1175/Oz levels, tracking the weakness in the US dollar. The USD index retreated 0.45% to trade juts below 99.00 levels. However, the strength in the major equity markets in Europe may have capped gains in the yellow metal to some extent. Gold prices could extend gains if the USD continues to see losses ahead of the weekend.
Gold Technical Levels
The immediate support is located at 1168.8, under which losses could be extended to 1164.20 (5-DMA). On the flip side, resistance is seen at 1177.8 and 1190.9 levels.