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14 Apr 2015
Gold recovers from session lows
FXStreet (Mumbai) - Gold prices recovered from the session low of USD 1183.7/Oz after the weaker-than-expected US advance retail sales number hit the wires.
Gold recovers as the USD weakens
The US dollar fell across the board, pushing the USD index lower to 99.18 levels. Consequently, the metal recovered from the session lows to a high of USD 1192.4 before settling at USD 1187.7/Oz levels. The metal came under pressure earlier today after being rejected at USD 1200.00 levels.
Further moves in the yellow metal depend on the USD index and the sentiment in the US equity markets. Risk aversion in the equities due to weak retail sales could support yellow metal.
Gold Technical Levels
The immediate resistance is seen at 1193.2, above which gains could be extended to 1198.9. On the flip side, a break below the daily low at 1183.7 could push the prices lower to 1178.5.
Gold recovers as the USD weakens
The US dollar fell across the board, pushing the USD index lower to 99.18 levels. Consequently, the metal recovered from the session lows to a high of USD 1192.4 before settling at USD 1187.7/Oz levels. The metal came under pressure earlier today after being rejected at USD 1200.00 levels.
Further moves in the yellow metal depend on the USD index and the sentiment in the US equity markets. Risk aversion in the equities due to weak retail sales could support yellow metal.
Gold Technical Levels
The immediate resistance is seen at 1193.2, above which gains could be extended to 1198.9. On the flip side, a break below the daily low at 1183.7 could push the prices lower to 1178.5.