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4 Mar 2015
Gold lifted ahead of US Jobs data
FXStreet (Mumbai) - Gold prices on Comex edged higher to fresh highs in the late-Asian session as sliding global equities and subdued US dollar raised the alternative asset demand for gold, pushing prices higher.
Gold supported above 10-DMA located at 1205.88
Currently, gold trades 0.24% higher at 1207.30 levels, close to fresh session highs at 1207.80 levels some minutes ago. Gold prices extended gains from the US last session as the US dollar remains muted ahead of US employment data due later today. Moreover, firm Asian physical demand for the yellow metals also lifted the prices from 1200 levels.
However, gold prices are expected to trade cautious as traders prefer to remain on side lines ahead of monetary-policy decisions around the world.
Gold Technical Levels
The metal has an immediate resistance at 1209.38 (5-DMA) and 1216.69 (100-DMA) levels. Meanwhile, support stands at 1200 levels below which doors could open for 1190 levels.
Gold supported above 10-DMA located at 1205.88
Currently, gold trades 0.24% higher at 1207.30 levels, close to fresh session highs at 1207.80 levels some minutes ago. Gold prices extended gains from the US last session as the US dollar remains muted ahead of US employment data due later today. Moreover, firm Asian physical demand for the yellow metals also lifted the prices from 1200 levels.
However, gold prices are expected to trade cautious as traders prefer to remain on side lines ahead of monetary-policy decisions around the world.
Gold Technical Levels
The metal has an immediate resistance at 1209.38 (5-DMA) and 1216.69 (100-DMA) levels. Meanwhile, support stands at 1200 levels below which doors could open for 1190 levels.