15 Jun 2015
Gold drops below hourly 200-MA
FXStreet (Mumbai) - Gold prices fell into losses in the European session to trade below its hourly 200-MA currently located at USD 1180.04 levels.
Gold under pressure ahead of FOMC meeting
The metal has begun the week on a negative note as investors stay cautious ahead of the FOMC rate decision due on Wednesday. The safe haven metal failed to strengthen today, despite reports of Greek impasse. The latest reports say another Greek deal negotiation talks would be held today at 12.30 GMT.
Prices have found some support at the session low of USD 1176.7/Oz levels as the USD index fell from the high of 95.65 to trade at 95.39.
Gold Technical Levels
The immediate support is located at 1175.00 could push the prices lower to 1170.00 levels. On the flip side, a break above 1180.04 (hourly 200-MA) could see the metal target 1192.4.
Gold under pressure ahead of FOMC meeting
The metal has begun the week on a negative note as investors stay cautious ahead of the FOMC rate decision due on Wednesday. The safe haven metal failed to strengthen today, despite reports of Greek impasse. The latest reports say another Greek deal negotiation talks would be held today at 12.30 GMT.
Prices have found some support at the session low of USD 1176.7/Oz levels as the USD index fell from the high of 95.65 to trade at 95.39.
Gold Technical Levels
The immediate support is located at 1175.00 could push the prices lower to 1170.00 levels. On the flip side, a break above 1180.04 (hourly 200-MA) could see the metal target 1192.4.