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22 Apr 2015

Gold wavers circa USD 1200

FXStreet (Mumbai) - Gold prices on Comex trades in a slim range during the European session, hovering around USD 1200 marker despite a sharp sell-off seen in the US dollar as traders remain confused given the mixed global cues ahead of next week’s Fed meeting.

Gold capped in a tight band

Currently, gold trades -0.17% lower at 1201.20 levels, having posted day’s high at 1204.30 and day’s low at 1197.80. Gold prices continues its side trend with every dip a renewed buying opportunity as markets remain torn apart between higher equities and weaker greenback. While, Greece concerns also keep the metal underpinned.

The US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades -0.50% lower at 97.71 levels.

Meanwhile, holdings at SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose to 742.35 tons on Tuesday reflecting increased investors confidence in the yellow metal.

Gold Technical Levels

The metal has an immediate resistance at 1205 and 1210 levels. Meanwhile, support stands at 1190 levels below which doors could open for 1183.50 levels.
Apr 22, 2015

UK short duration gilt yields rise after BOE minutes

The yields on the short duration gilt yields rose faster than those on the long duration yields after the Bank of England (BOE) minutes showed all members see bank rate is more likely to rise over a three year forecast period.
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Apr 22, 2015

Downside limited in EUR/SEK – Danske Bank

According to Arne Rasmussen, Chief Analyst at Danske Bank, occasional pullbacks in the cross could appear to be limited for the time being...
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