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20 Apr 2015
Gold outperforms in EUR terms
FXStreet (Mumbai) - Gold prices advanced 0.5% in the EUR terms, compared to a 0.33% gain seen in the USD terms.
Supported by Greece issue
The metal is being supported by a flight to safety amid Greece issue. The nation is on the road to a default in case it fails to receive the money before the payments to the IMF become due on May 1st. Consequently, the EUR is under pressure, thereby pushing gold prices higher by 0.55 to EUR 1120/Oz.
Meanwhile, Gold in USD terms, or XAU/USD is trading 0.33% higher for the day at USD 1207.10/Oz. The USD is somewhat resilient after the official data in the US showed a slight uptick in the core inflation.
Gold (EUR) Technical Levels
The immediate resistance is seen at 1121.77 (Apr. 1, 2015), above which gains could be extended to 1126.97 (Feb. 4, 2015). On the flip side, a break below 1110.37 (Apr. 16, low), under which losses could be extended to 1100.00.
Supported by Greece issue
The metal is being supported by a flight to safety amid Greece issue. The nation is on the road to a default in case it fails to receive the money before the payments to the IMF become due on May 1st. Consequently, the EUR is under pressure, thereby pushing gold prices higher by 0.55 to EUR 1120/Oz.
Meanwhile, Gold in USD terms, or XAU/USD is trading 0.33% higher for the day at USD 1207.10/Oz. The USD is somewhat resilient after the official data in the US showed a slight uptick in the core inflation.
Gold (EUR) Technical Levels
The immediate resistance is seen at 1121.77 (Apr. 1, 2015), above which gains could be extended to 1126.97 (Feb. 4, 2015). On the flip side, a break below 1110.37 (Apr. 16, low), under which losses could be extended to 1100.00.