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14 May 2015
Gold trades flat
FXStreet (Mumbai) - Gold prices trade more or less flat with a positive bias after rising more than USD 20 gains in the previous session.
Gold trades above key moving averages
The yellow metal sits comfortably above key short-term and long-term moving average levels. At USD 1216/Oz, the metal is well above its 200-DMA and 100-DMA located at USD 1207.22 and 1210.40 levels respectively. The 50-DMA is located way lower at USD 1195.27 levels.
The key moving average levels were breached in the previous session after the weak economic data from China to US triggered a demand for safe haven assets. A weak US dollar further aided the metal.
Gold Technical Levels
The metal currently trades at USD 1215.6/Oz. The immediate support is located at 1210.40 (100-DMA) and 1207.22 (200-DMA). On the other hand, immediate resistance is located at 1219.2 and 1224.4.
Gold trades above key moving averages
The yellow metal sits comfortably above key short-term and long-term moving average levels. At USD 1216/Oz, the metal is well above its 200-DMA and 100-DMA located at USD 1207.22 and 1210.40 levels respectively. The 50-DMA is located way lower at USD 1195.27 levels.
The key moving average levels were breached in the previous session after the weak economic data from China to US triggered a demand for safe haven assets. A weak US dollar further aided the metal.
Gold Technical Levels
The metal currently trades at USD 1215.6/Oz. The immediate support is located at 1210.40 (100-DMA) and 1207.22 (200-DMA). On the other hand, immediate resistance is located at 1219.2 and 1224.4.