8 May 2015
Gold supported at $1181
FXStreet (Mumbai) - Gold prices on Comex trade around a flat line in the mid-Asian session, consolidating previous losses after the US dollar regained lost ground following favourable US unemployment claims data. While markets remain cautious ahead of the most influential US labour market report.
Gold rejected at $1184
Currently, gold trades flat at 1182.40 levels, wavering in a slim range. Gold recovered slightly from previous losses after 10-year treasury yield fell to 2.162%, down -1.01% on the day.
Meanwhile, markets remain cautious ahead of the nonfarm payrolls report for April due later today. Soft data could prompt the Fed to delay a rate hike and boost non-interest-paying gold.
Gold Technical Levels
The metal has an immediate resistance at 1190 and 1195 levels. Meanwhile, support stands at 1180 below which doors could open for 1178 levels.
Gold rejected at $1184
Currently, gold trades flat at 1182.40 levels, wavering in a slim range. Gold recovered slightly from previous losses after 10-year treasury yield fell to 2.162%, down -1.01% on the day.
Meanwhile, markets remain cautious ahead of the nonfarm payrolls report for April due later today. Soft data could prompt the Fed to delay a rate hike and boost non-interest-paying gold.
Gold Technical Levels
The metal has an immediate resistance at 1190 and 1195 levels. Meanwhile, support stands at 1180 below which doors could open for 1178 levels.