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22 Apr 2015
Gold trades above USD 1200/Oz
FXStreet (Mumbai) - Gold prices trade above the USD 1200 mark, after having recovered from the low of USD 1199.1 amid signs of weakness in the US Treasury yields.
Trades above 5-DMA
Prices currently trade above the 5-DMA located at USD 1202.14 as the Treasury yields in the US weakened moderately. The 10-year yield in the US fell 1.1 basis points to 1.904%. Moreover, the weakness in the yields weighs over the US dollar, which helped the metal gain strength.
Meanwhile, the metal lacks fresh fundamental triggers in the European session. Furthermore, the major European index futures, trading flat at the moment, fail to provide cues to Gold prices.
Gold Technical Levels
The immediate resistance is seen at 1204.1, above which gains could be extended to 1210.00. On the flip side, a break below 1200.00 could push prices lower to 1197.3.
Trades above 5-DMA
Prices currently trade above the 5-DMA located at USD 1202.14 as the Treasury yields in the US weakened moderately. The 10-year yield in the US fell 1.1 basis points to 1.904%. Moreover, the weakness in the yields weighs over the US dollar, which helped the metal gain strength.
Meanwhile, the metal lacks fresh fundamental triggers in the European session. Furthermore, the major European index futures, trading flat at the moment, fail to provide cues to Gold prices.
Gold Technical Levels
The immediate resistance is seen at 1204.1, above which gains could be extended to 1210.00. On the flip side, a break below 1200.00 could push prices lower to 1197.3.