Gold stays below $1200 in Europe, risk-on weighs

16 February, 2016

Gold prices recovered off lows, but stay below USD 1200 mark in Europe as the major European equity futures point to risk-on action after opening bell. 

Focus on equities

The safe haven metal remains focused on equities in the absence of first tier economic data releases out of China and US. Prices recovered from lows after Japan’s Nikkei index trimmed gains heading into the closing. 

However, the recovery in gold ran out of steam at USD 1200 mark. Moreover, the Euro Stoxx 50 futures pointed to a positive open, which capped demand for the yellow metal. As ofnow, the metal is trading around USD 1195/Oz levels. 

Gold Technical Levels

The immediate hurdle is seen at USD 1200, above which prices could test 1211.93 (23.6% of Dec low – Feb high). On the other hand, a break below 1190.60 (daily low) would open doors for a drop to 1180.12 (38.2% of Dec low – Feb high).


Source link  
Euro under moderate pressure

The research team at Lloyds Bank explains that the euro, along with the pound, has outperformed over the past month...

Gold hanging near 3-week lows

Gold oscillated in a narrow trading band, with slight negative bias, and was seen consolidating...

US Dollar finds buyers around 100.20

The greenback, measured by the US Dollar Index, stays under...


Gold consolidates near $1,260/oz

The ounce troy of the precious metal has reverted yesterday’s pullback and is now trading near session tops around $1,260...

Oil sits at multi-month troughs

Oil benchmarks on both sides of the Atlantic snapped a minor-bounce and traded modestly flat ahead of the European open, as investors remain wary heading towards the inventory report due to be published by the API later on the day...

Gold holding stable around $1318

After dipping to $1315 region, Gold has managed to recover the lost ground and is currently trading nearly unchanged around $1318 level, awaiting for fresh impetus from FOMC monetary policy decision...


Gold inching higher to reclaim $1300 level

Risk-off sentiment across global financial markets and broader USD weakness continues to boost demand for Gold, which has now moved within striking distance of reclaiming $1300 level for the first time since Jan. 2015...

Gold regains poise, set to test $ 1250

The bullion ran through fresh bids during the European session, now pushing further towards $ 1250 mark as we head closer towards the Fed interest rate decision...

The Economic Week Ahead - January 18 - 22, 2016

United States: After the holiday break today (Martin Luther King, Jr. Day), the U.S. economic calendar may offer only limited last-minute insight for the Fed ahead of its policy decision the following week...

  


Share: