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24 Dec 2014
Gold little changed in Asian morning
FXStreet (Mumbai) - Gold prices on Comex steadies in Asian morning, trading in a very tight range locked between 1176-1178.50 levels.
Currently, gold prices trades unchanged at USD 1177.80/Oz, having posted day’s low at 1176.20 levels. Gold prices erased previous gains and slipped in the US trading after cheerful US economic data boosted the US dollar pushing gold prices lower. The U.S. economy grew at a 5% clip in the third quarter, its quickest pace in 11 years beating market expectations of 4.3% growth.
Gold prices may remain in range amid thin liquidity ahead of Christmas holiday season.
Gold Technical Levels
The metal has an immediate resistance at 1184.90 (Dec 23 High), above which gains could be extended to 1192.90 (Nov 14 High) levels. Meanwhile, support stands at 1170.70 (Dec 22 Close), below which doors could open for 1169.40 (Dec 9 Low) levels.
Currently, gold prices trades unchanged at USD 1177.80/Oz, having posted day’s low at 1176.20 levels. Gold prices erased previous gains and slipped in the US trading after cheerful US economic data boosted the US dollar pushing gold prices lower. The U.S. economy grew at a 5% clip in the third quarter, its quickest pace in 11 years beating market expectations of 4.3% growth.
Gold prices may remain in range amid thin liquidity ahead of Christmas holiday season.
Gold Technical Levels
The metal has an immediate resistance at 1184.90 (Dec 23 High), above which gains could be extended to 1192.90 (Nov 14 High) levels. Meanwhile, support stands at 1170.70 (Dec 22 Close), below which doors could open for 1169.40 (Dec 9 Low) levels.