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2 Apr 2015
Gold rises to session highs
FXStreet (Mumbai) - Gold prices hit a fresh session high of USD 1207.4/Oz levels, as the US dollar extended losses against major currencies during the European session.
Gains capped near the previous session’s high
Prices eased slightly to USD 1205.3/Oz after setting a session high of USD 1207.4/Oz. Moreover, the momentum stalled near the previous session’s high of USD 1208.6/Oz. Nevertheless, the metal could rise above the same as the USD index; down 0.49% at 98.04, continues to weaken, while the major European markets are looking shaky after a positive start.
Gold Technical Levels
The immediate resistance is seen at 1208.6, above which gains could be extended to 1214.67 (100-DMA). On the flip side, a break below 1199.50 (50-DMA) could drive the prices lower to 1194.74 (5-DMA).
Gains capped near the previous session’s high
Prices eased slightly to USD 1205.3/Oz after setting a session high of USD 1207.4/Oz. Moreover, the momentum stalled near the previous session’s high of USD 1208.6/Oz. Nevertheless, the metal could rise above the same as the USD index; down 0.49% at 98.04, continues to weaken, while the major European markets are looking shaky after a positive start.
Gold Technical Levels
The immediate resistance is seen at 1208.6, above which gains could be extended to 1214.67 (100-DMA). On the flip side, a break below 1199.50 (50-DMA) could drive the prices lower to 1194.74 (5-DMA).