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Berita trading
16 Apr 2015
Gold resilient to strong US dollar
FXStreet (Mumbai) - Gold prices have shown resilience to strength in the USD index on Thursday, contradicting the behavior seen since Monday.
Trades above 10-DMA
The metal recovered from the low of USD 1200.00 to trade above the 10-DMA level of USD 1203.68. Prices ticked higher despite of strength in the USD index, which ticked higher to 98.86 from the low of 98.07. Moreover, the benchmark yields hitting record lows across the Eurozone, and especially in Germany could have supported the yellow metal.
Earlier this week, the metal showed a peculiar weakness amid disappointing economic data across the globe. However, Gold has outperformed other safe havens – Treasuries, Yen today.
Gold Technical Levels
At the moment, the metal is trading at USD 1205.70; up 0.37% for the day. The immediate resistance is seen at 1210.4, above which the metal could test the 200-DMA at 1214.05. On the flip side, a break below 1200.00, under which losses could be extended to 1192.16 (50-DMA).
Trades above 10-DMA
The metal recovered from the low of USD 1200.00 to trade above the 10-DMA level of USD 1203.68. Prices ticked higher despite of strength in the USD index, which ticked higher to 98.86 from the low of 98.07. Moreover, the benchmark yields hitting record lows across the Eurozone, and especially in Germany could have supported the yellow metal.
Earlier this week, the metal showed a peculiar weakness amid disappointing economic data across the globe. However, Gold has outperformed other safe havens – Treasuries, Yen today.
Gold Technical Levels
At the moment, the metal is trading at USD 1205.70; up 0.37% for the day. The immediate resistance is seen at 1210.4, above which the metal could test the 200-DMA at 1214.05. On the flip side, a break below 1200.00, under which losses could be extended to 1192.16 (50-DMA).