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3 Mar 2015
Gold marginally up ahead of the US session
FXStreet (Mumbai) - Gold prices hit a fresh session high of USD 1211.2/Oz levels ahead of the US session amid lack of fresh fundamental triggers.
Gold: Support from weak Equities
Prices found some support after the major European markets fell into losses. The DAX has erased its gains to trade largely unchanged for the day at 11,421.30, while the London’s Ftse is down 0.14% to trade at 6931.30. Meanwhile, the S&P futures in the US have extended losses to trade 0.23% lower at 2109.15. The yellow metal could gain further if the major equity markets extend the fall during the US session.
Gold Technical Levels
The immediate resistance is seen at 1216.11 (100-DMA), above which gains could be extended to 1219.6. On the flip side, support is seen at 1199 and 1190 levels.
Gold: Support from weak Equities
Prices found some support after the major European markets fell into losses. The DAX has erased its gains to trade largely unchanged for the day at 11,421.30, while the London’s Ftse is down 0.14% to trade at 6931.30. Meanwhile, the S&P futures in the US have extended losses to trade 0.23% lower at 2109.15. The yellow metal could gain further if the major equity markets extend the fall during the US session.
Gold Technical Levels
The immediate resistance is seen at 1216.11 (100-DMA), above which gains could be extended to 1219.6. On the flip side, support is seen at 1199 and 1190 levels.