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27 May 2015
Gold relatively resilient amid USD rally
FXStreet (Mumbai) - Gold prices have stayed relatively resilient compared to other commodities and major currencies amid sharp rally in the USD across the board.
Gold steadies at USD 1185-1186/Oz
The metal continues to trade moderately lower around USD 1185-1186/Oz, a level which it has maintained since the early European session today. The resilience is despite the 0.32% rise in the USD index to 97.70 levels.
Meanwhile, Crude oil and Copper dropped more than 0.30% each. Gold prices could stay resilient ahead if the US stock markets turn risk averse.
Gold Technical Levels
The immediate support is seen at 1182.00, under which losses could be extended to 1178.00 levels. On the other hand, a break above 1192.00 could see the metal re-test 1195.00 levels.
Gold steadies at USD 1185-1186/Oz
The metal continues to trade moderately lower around USD 1185-1186/Oz, a level which it has maintained since the early European session today. The resilience is despite the 0.32% rise in the USD index to 97.70 levels.
Meanwhile, Crude oil and Copper dropped more than 0.30% each. Gold prices could stay resilient ahead if the US stock markets turn risk averse.
Gold Technical Levels
The immediate support is seen at 1182.00, under which losses could be extended to 1178.00 levels. On the other hand, a break above 1192.00 could see the metal re-test 1195.00 levels.