18 Dec 2014
Gold eases slightly ahead of the weekly US jobs data
FXStreet (Mumbai) - Gold prices have eased slightly from the days high ahead of the labor department data in the US which is likely to show a slight increase in the initial jobless claims in the week ended Dec. 17.
The yellow metal now trades 0.75% higher at USD 1203.40/Oz, down from the high of USD 1213.80/Oz hit earlier today. The metal may have erased part of its gains tracking US dollar index, which recovered to trade 0.225 higher at 59.46 levels. Meanwhile, the investors await the initial jobless claims data for the last week, which is expected to come-in at 295K, up from the previous week’s print of 294K.
Gold Technical Levels
Gold has an immediate resistance located at 1208, above which prices could re-test the day high of 1213.80. Meanwhile, support is seen at 1200.00 and 1194.00 levels.
The yellow metal now trades 0.75% higher at USD 1203.40/Oz, down from the high of USD 1213.80/Oz hit earlier today. The metal may have erased part of its gains tracking US dollar index, which recovered to trade 0.225 higher at 59.46 levels. Meanwhile, the investors await the initial jobless claims data for the last week, which is expected to come-in at 295K, up from the previous week’s print of 294K.
Gold Technical Levels
Gold has an immediate resistance located at 1208, above which prices could re-test the day high of 1213.80. Meanwhile, support is seen at 1200.00 and 1194.00 levels.