Our best spreads and conditions
Learn more
Forex News
Back
Sep 23, 2015
Gold hits fresh session high
FXStreet (Mumbai) - Gold prices extended gains to a session high of USD 1133.50/Oz levels on the back of moderate weakness in the US stocks and weak tone in the USD index.
Trades around 5-DMA
Prices currently hover around the 5-DMA located at USD 1131.64/Oz levels. The Wall Street got off to a nervous start as investors remained focused on the concerns of a slowdown in China and other EM economies.
The metal also remains supported on account of weak tone in the USD index, which currently trades around 96.40 levels. The sharp drop in the employment component of the preliminary Markit US manufacturing PMI also helped the yellow metal.
Gold Technical Levels
The immediate resistance is located at 1132.90 (Nov 2014 low), above which prices could rise to 1141.20 (Sep 18 high). The support is located at 1118.40 (Aug 27 low) and 1098.20 (Sep 11 low).
Trades around 5-DMA
Prices currently hover around the 5-DMA located at USD 1131.64/Oz levels. The Wall Street got off to a nervous start as investors remained focused on the concerns of a slowdown in China and other EM economies.
The metal also remains supported on account of weak tone in the USD index, which currently trades around 96.40 levels. The sharp drop in the employment component of the preliminary Markit US manufacturing PMI also helped the yellow metal.
Gold Technical Levels
The immediate resistance is located at 1132.90 (Nov 2014 low), above which prices could rise to 1141.20 (Sep 18 high). The support is located at 1118.40 (Aug 27 low) and 1098.20 (Sep 11 low).