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19 Mar 2015
Gold slowly extends the decline
FXStreet (Mumbai) - Gold prices are slowly extending its losses, tracking the sharp rebound in the USD index.
Gold to extend losses further?
The metal could extend the drop if the major European equity markets, strengthen, coupled with a rise in the USD index. An upbeat weekly jobless claims number in the US due for release later today could further weigh on Gold.
On the other hand, a drop in the equity markets could help the yellow metal find support around the current level of USD 1167/OZ levels.
Gold Technical Levels
The immediate resistance is seen at 1177.8, above which gains could be extended to 1190.00 levels. On the flip side, a break below 1163.7 could drive the prices lower to 1150.00 levels.
Gold to extend losses further?
The metal could extend the drop if the major European equity markets, strengthen, coupled with a rise in the USD index. An upbeat weekly jobless claims number in the US due for release later today could further weigh on Gold.
On the other hand, a drop in the equity markets could help the yellow metal find support around the current level of USD 1167/OZ levels.
Gold Technical Levels
The immediate resistance is seen at 1177.8, above which gains could be extended to 1190.00 levels. On the flip side, a break below 1163.7 could drive the prices lower to 1150.00 levels.