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21 Apr 2015
Gold hits fresh session highs above USD 1198/Oz
FXStreet (Mumbai) - Gold prices on Comex climbed higher in the European session, extending gains from Asia, as the yellow metal remains support amid looming Greece debt concerns despite broadly stronger greenback and higher global equities.
Gold remains below USD 1200
Currently, gold trades 0.40% higher at fresh session highs of 1197.80 levels, having previously posted day’s lows at 1192.70. Gold prices kept gains in the mid-European session as traders continue to evaluate the latest Chinese easing measures while concerns surrounding Greece also keeps gold prices underpinned.
Moreover, gold also receive further support as investors closely eyed physical demand in top consumer India, which today celebrates the Akshaya Tritiya festival, considered one of the most auspicious days to buy gold.
Meanwhile, the US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades retreated from fresh session highs and trades at 98.46 levels, recording a 0.31% gain on the day.
Gold Technical Levels
The metal has an immediate resistance at 1200 and 1205 levels. Meanwhile, support stands at 1190 levels below which doors could open for 1183.50 levels.
Gold remains below USD 1200
Currently, gold trades 0.40% higher at fresh session highs of 1197.80 levels, having previously posted day’s lows at 1192.70. Gold prices kept gains in the mid-European session as traders continue to evaluate the latest Chinese easing measures while concerns surrounding Greece also keeps gold prices underpinned.
Moreover, gold also receive further support as investors closely eyed physical demand in top consumer India, which today celebrates the Akshaya Tritiya festival, considered one of the most auspicious days to buy gold.
Meanwhile, the US dollar index which measures the relative strength of the greenback against a basket of six major currencies trades retreated from fresh session highs and trades at 98.46 levels, recording a 0.31% gain on the day.
Gold Technical Levels
The metal has an immediate resistance at 1200 and 1205 levels. Meanwhile, support stands at 1190 levels below which doors could open for 1183.50 levels.