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24 Dec 2014
Gold remains listless ahead of unemployment claims – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, shares that Gold trades listless, with the spot standing at $117.61/oz ahead of the US unemployment claims release later in the day.
Key Quotes
“Gold is showing little movement on Wednesday, as the spot price stands at $1177.61 per ounce. The metal had traded closed to the key 1200 line for most of December, but posted sharp losses to start off the week. In the US, today’s highlight is Unemployment Claims. The key indicator is usually released each Thursday, but has been brought forward due to the Christmas holiday. The markets are not expecting much change from the previous release, with the estimate standing at 291 thousand.”
“XAU/USD has shown little movement in the Asian and European sessions, as the pair trades just above support at 1175.”
“On the upside, 1200 has some breathing room as the pair trades at lower levels. 1215 is next."
“On the downside, 1175 remains under strong pressure. Will the pair break below this line during the day?”
“Current range: 1175 to 1200”
Key Quotes
“Gold is showing little movement on Wednesday, as the spot price stands at $1177.61 per ounce. The metal had traded closed to the key 1200 line for most of December, but posted sharp losses to start off the week. In the US, today’s highlight is Unemployment Claims. The key indicator is usually released each Thursday, but has been brought forward due to the Christmas holiday. The markets are not expecting much change from the previous release, with the estimate standing at 291 thousand.”
“XAU/USD has shown little movement in the Asian and European sessions, as the pair trades just above support at 1175.”
“On the upside, 1200 has some breathing room as the pair trades at lower levels. 1215 is next."
“On the downside, 1175 remains under strong pressure. Will the pair break below this line during the day?”
“Current range: 1175 to 1200”