29 Apr 2015
Gold extending losses
FXStreet (Mumbai) - Gold prices are extending losses in the European session as the USD is being bid higher on the back of a rise in the Treasury yields to one-month high.
Gold trades below 200-DMA
The pair, currently at USD 1206.8/Oz, trades below the 200-DMA located at USD 1209.73. The USD ran into fresh offers after the 10-year Treasury yield rose to 2.005% level. A strong dollar is currently weighing on Gold prices.
Ahead in the day, US first quarter GDP could influence the metals. However, the investors are likely to remain focused on the US Fed statement due for release tomorrow.
Gold Technical Levels
The immediate resistance is seen at 1215.49 (100-DMA), above which the gains could be extended to 1219.4 (Mar. 26 high). On the flip side, a break below 1205.00 could drive the prices lower to 1200.00.
Gold trades below 200-DMA
The pair, currently at USD 1206.8/Oz, trades below the 200-DMA located at USD 1209.73. The USD ran into fresh offers after the 10-year Treasury yield rose to 2.005% level. A strong dollar is currently weighing on Gold prices.
Ahead in the day, US first quarter GDP could influence the metals. However, the investors are likely to remain focused on the US Fed statement due for release tomorrow.
Gold Technical Levels
The immediate resistance is seen at 1215.49 (100-DMA), above which the gains could be extended to 1219.4 (Mar. 26 high). On the flip side, a break below 1205.00 could drive the prices lower to 1200.00.