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30 Mar 2015
Gold recovers slightly from session lows
FXStreet (Mumbai) - Gold prices have recovered from the session low of USD 1182.1/Oz to trade at USD 1187.5/Oz, tracking slight weakness in the US Treasury yields.
Gold recovers as USD struggles to extend gains
The US dollar failed to extend gains against major currencies despite of a better-than-expected pending home sales data and an upbeat personal spending and income data. Moreover, the USD lacked the support of the Treasury yields, which erased gains to trade largely unchanged for the day.
Meanwhile, the sharp gains in the US equities are capping gains in the yellow metal. The metal could extend losses in case the USD strengthens.
Gold Technical Levels
The immediate support is seen at 1181.4, under which losses could be extended to 1175.00. On the flip side, resistance is seen at 1190.60 (10-DMA) and 1195.54 (5-DMA) levels.
Gold recovers as USD struggles to extend gains
The US dollar failed to extend gains against major currencies despite of a better-than-expected pending home sales data and an upbeat personal spending and income data. Moreover, the USD lacked the support of the Treasury yields, which erased gains to trade largely unchanged for the day.
Meanwhile, the sharp gains in the US equities are capping gains in the yellow metal. The metal could extend losses in case the USD strengthens.
Gold Technical Levels
The immediate support is seen at 1181.4, under which losses could be extended to 1175.00. On the flip side, resistance is seen at 1190.60 (10-DMA) and 1195.54 (5-DMA) levels.