11 Feb 2015
Gold declines to 50-DMA
FXStreet (Mumbai) - Gold prices erased most of its gains to trade at the 50-DMA located at USD 1233.50/Oz levels.
Safe haven assets fail to strengthen
Most of the safe haven assets, including Gold have failed to strengthen ahead of the negotiations between Greece and its international creditors and talks in Russia over Ukraine issue. The yellow metal declined from the high of USD 1238.5 seen couple of hours before to trade at the 50-DMA level at USD 1233.50.
Meanwhile, other safe haven assets too, are having a hard time strengthening. The Japanese Yen has declined 0.37% to trade at 119.87 per dollar, while the 10-year Treasury yield hovers close to 2.00%.
Gold Technical Levels
The immediate support is seen at 50-DMA located at 1233.50, under which losses could be extended to 1228.4 (Feb. 6 low). Meanwhile, resistance is seen at 1238.5 and 1244.82 (200-DMa) levels.
Safe haven assets fail to strengthen
Most of the safe haven assets, including Gold have failed to strengthen ahead of the negotiations between Greece and its international creditors and talks in Russia over Ukraine issue. The yellow metal declined from the high of USD 1238.5 seen couple of hours before to trade at the 50-DMA level at USD 1233.50.
Meanwhile, other safe haven assets too, are having a hard time strengthening. The Japanese Yen has declined 0.37% to trade at 119.87 per dollar, while the 10-year Treasury yield hovers close to 2.00%.
Gold Technical Levels
The immediate support is seen at 50-DMA located at 1233.50, under which losses could be extended to 1228.4 (Feb. 6 low). Meanwhile, resistance is seen at 1238.5 and 1244.82 (200-DMa) levels.