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31 Mar 2015
Gold sees a slight recovery
FXStreet (Mumbai) - Gold prices have recovered slightly from the session low of USD 1178.5/Oz levels on signs of risk aversion in the major European equity markets.
Gold stuck between weak equities and strong USD
Gold prices have recovered from the session low as the major European equity indices extended losses. However, the recovery has been weak since the strong USD continues to weigh over metal prices. The German Dax weakened 0.46%, while the London's Ftse fell 0.76%. However, the USD index continues to trade up by 0.60%, around the session high of 99.01.
The yellow metal could recover losses in case the US equity markets fall in line with their European peers.
Gold Technical Levels
The immediate resistance is seen at 1188.29 (hourly 200-MA), above which prices could rise to 1195.22 (hourly 100-MA). On the flip side, support is seen at 1178.5, under which losses could be extended to 1173.89.
Gold stuck between weak equities and strong USD
Gold prices have recovered from the session low as the major European equity indices extended losses. However, the recovery has been weak since the strong USD continues to weigh over metal prices. The German Dax weakened 0.46%, while the London's Ftse fell 0.76%. However, the USD index continues to trade up by 0.60%, around the session high of 99.01.
The yellow metal could recover losses in case the US equity markets fall in line with their European peers.
Gold Technical Levels
The immediate resistance is seen at 1188.29 (hourly 200-MA), above which prices could rise to 1195.22 (hourly 100-MA). On the flip side, support is seen at 1178.5, under which losses could be extended to 1173.89.