27 Feb 2015
Gold remains dead flat
FXStreet (Mumbai) - Gold prices remain unchanged around USD 1208/Oz levels, post the data in the US revised the Q4 2014 GDP lower.
Gold: Struggle for direction continues
The metal has been trading around USD 1208/Oz levels since the European session as markets awaited the US GDP figures.. The Q4 annualised GDP as per the second estimate was revised lower to 2.2%, from the initial estimate of 2.6%. However, the data came-in higher than the expected figure of 2.0%. However, the reaction to the US growth numbers is muted.
Gold Technical Levels
The metal has an immediate support at 1206.6 (10-DMA), under which losses could be extended to 1200.00 levels. On the flip side, a break above 1214.32 (100-DMA), could push the pair higher to 1219.6.
Gold: Struggle for direction continues
The metal has been trading around USD 1208/Oz levels since the European session as markets awaited the US GDP figures.. The Q4 annualised GDP as per the second estimate was revised lower to 2.2%, from the initial estimate of 2.6%. However, the data came-in higher than the expected figure of 2.0%. However, the reaction to the US growth numbers is muted.
Gold Technical Levels
The metal has an immediate support at 1206.6 (10-DMA), under which losses could be extended to 1200.00 levels. On the flip side, a break above 1214.32 (100-DMA), could push the pair higher to 1219.6.