27 Feb 2015
Gold declines in EUR terms post German inflation data
FXStreet (Mumbai) - An uptick in the German inflation showed by a the preliminary data on Friday pushed the yellow metal lower in the EUR terms.
Gold: declines from one-week highs
The metal fell from one-week high after the preliminary month-on-month CPI printed at 0.9%, bettering the estimate of 0.6%, while year-on-year the CPI came-in at 0.1%, beating the estimate of a 0.3% fall. An uptick in the inflation rate supported the shred currency, thereby weakening the yellow metal, which is trading slightly weak in the international markets.
God currently trades 0.42% lower at EUR 1075.70/Oz levels, while international prices are down just 0.10% at USD 1208.90/Oz levels.
Gold (EUR) Technical Levels
The immediate resistance is seen at 1087.49, above which gains could be extended to 1100 levels. On the flip side, support is seen at 1050, under which losses could be extended to 1000 levels.
Gold: declines from one-week highs
The metal fell from one-week high after the preliminary month-on-month CPI printed at 0.9%, bettering the estimate of 0.6%, while year-on-year the CPI came-in at 0.1%, beating the estimate of a 0.3% fall. An uptick in the inflation rate supported the shred currency, thereby weakening the yellow metal, which is trading slightly weak in the international markets.
God currently trades 0.42% lower at EUR 1075.70/Oz levels, while international prices are down just 0.10% at USD 1208.90/Oz levels.
Gold (EUR) Technical Levels
The immediate resistance is seen at 1087.49, above which gains could be extended to 1100 levels. On the flip side, support is seen at 1050, under which losses could be extended to 1000 levels.