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17 Jul 2015
Gold flattish around $ 1143
FXStreet (Mumbai) - Gold prices on Comex prolongs its downward trajectory and trades muted in the late-Asian session, as traders await for fresh direction from the upcoming key US data flow which will confirm the strength in the greenback.
Gold awaits US data
Currently, gold trades flat at 1143.40, trading in an extremely slim range. The yellow metal keeps its bearish bias intact as the US dollar remains boosted on the recent streak of upbeat US fundamentals along with hawkish comments from Fed Yellen.
Fed Chair Janet Yellen repeated during her testimony on Wednesday the intention to increase interest rates later this year.
Gold prices are likely to get influenced by the US CPI and consumer sentiment figures to be reported later in the US session. Meanwhile, the US dollar, a virtual gauge of greenback’s strength now trades -0.13% lower at 97.63.
Gold Technical Levels
The metal has an immediate resistance at 1150 and 1153 levels. Meanwhile, support stands at 1140 below which doors could open for 1132.80 levels.
Gold awaits US data
Currently, gold trades flat at 1143.40, trading in an extremely slim range. The yellow metal keeps its bearish bias intact as the US dollar remains boosted on the recent streak of upbeat US fundamentals along with hawkish comments from Fed Yellen.
Fed Chair Janet Yellen repeated during her testimony on Wednesday the intention to increase interest rates later this year.
Gold prices are likely to get influenced by the US CPI and consumer sentiment figures to be reported later in the US session. Meanwhile, the US dollar, a virtual gauge of greenback’s strength now trades -0.13% lower at 97.63.
Gold Technical Levels
The metal has an immediate resistance at 1150 and 1153 levels. Meanwhile, support stands at 1140 below which doors could open for 1132.80 levels.