Gold stays comatose even though USD index dropped

15 December, 2015

Gold prices stay comatose even though the USD index weakened in Europe as the metal traders await the FOMC rate decision due tomorrow. 

Offered at USD 1066/Oz

Prices turned lower from the high of USD 1066/Oz levels as investors await the Fed decision. The market stands divided on the size of the liftoff and the expectations could be influenced by the monthly US CPI data due later today. 

Meanwhile, the USD index fell 0.34% to trade below 97.50, but failed to support the yellow metal. The uptick is not helping the metal either. 

Gold Technical Levels

The immediate resistance is seen at 1069 (hourly 50-MA), above which the gains could be extended to 1079.67 (Friday’s high). On the other hand, a break below 1058.77 (previous day’s low) would open doors for a drop to 1052.20 (Nov 27 low).


Source link  
Gold holds steady near 6-week highs

Gold trimmed of the early gains to a six-week high and retreated to the $1262 region during early the European session, albeit has managed to hold...

USD stays under pressure on politics

The US dollar inched up from a 13-month low against a basket of six major currencies touched in early trading, assisted by strongerthan-expected...

Dollar rebounds from multi-month lows

The greenback selling pressure seems to have abated for the time being, with the key US Dollar Index (DXY) bouncing off 9-month lows...


EUR/GBP jumps to fresh yearly tops

The EUR/GBP cross was seen building on previous session's strong up-move and has now jumped to fresh yearly tops near 0.8875...

USD: Fed being a little more hawkish

The dollar picked up over the past week, and this continued to be in reaction to a Fed that is being a little more hawkish...

EUR sluggish in recent weeks

EUR has also been surprisingly soft in light of the convincing win by French President Macron...


EUR/USD sinks to session lows

The single currency is now losing the grip vs. the buck, sending EUR/USD to test the area of daily lows in the 1.1240/30. Spot met extra downside pressure...

Euro is consolidating below the 1.1300

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair still points to some consolidation...

Dollar Index rebound looks plausible

In view of the analysts at Societe Generale, the Dollar Index correction appears to have come...

  


Share: