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Gold/EUR stays above 1000 handle

FXStreet (Mumbai) - Gold prices in the EUR terms are trading above EUR 1000/Oz levels in Asia, but the gains remain capped due to EUR strength after Friday’s dismal payrolls report.

Eyes EZ services PMI

The final Eurozone services PMI due for release later today are expected to edge up slightly. Last week, the flash PMIs had shown a slight decline in the activity. Meanwhile, the dismal payrolls report could continue to boost the demand for the safe haven metal.

Gold/EUR recovered from the low of EUR 989.71/Oz levels to print a high of 1016.30 in the early Asian session today.

Gold/EUR Technical Levels

At EUR 1009.65/Oz, the immediate resistance is seen at 1018.62 (Sep 1 high), above which the metal could rise to 1035.05 (Aug 21 high). On the other side, support is seen at 1000 and 989.71 (Oct 2 low).

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