18 May 2015
Gold falls into losses
FXStreet (Mumbai) - Gold prices have extended losses to trade negative on the day at USD 1223.6/OZ, tracking the rise in the yield driven rise in the US dollar index.
Gold falls as USD continues to rise
The American dollar extended gains across the board as the treasury yields across the yield curve strengthened further at the onset of the US session. The USD index now trades 0.76% higher at 94.00 levels. Meanwhile, the flat to positive action on the Wall Street fails to provide any support to the yellow metal.
With no major economic data due for release today, the metal traders are likely to continue tracking the movement in the USD index.
Gold Technical Levels
The immediate resistance is seen at the daily high of USD 1232.3, above which gains could be extended to resistance is seen at 1236.8 (Feb 16 high). On the other hand, support is seen at 1220.00 and 1215 levels.
Gold falls as USD continues to rise
The American dollar extended gains across the board as the treasury yields across the yield curve strengthened further at the onset of the US session. The USD index now trades 0.76% higher at 94.00 levels. Meanwhile, the flat to positive action on the Wall Street fails to provide any support to the yellow metal.
With no major economic data due for release today, the metal traders are likely to continue tracking the movement in the USD index.
Gold Technical Levels
The immediate resistance is seen at the daily high of USD 1232.3, above which gains could be extended to resistance is seen at 1236.8 (Feb 16 high). On the other hand, support is seen at 1220.00 and 1215 levels.