27 Apr 2015
Gold extends gains in the US session
FXStreet (Mumbai) - Gold prices advanced to a high of USD 1187.6/Oz in the early US session as the dollar pared gains against a basket of currencies.
Struggling near hourly 50-MA
The yellow metal is currently hovering around the hourly 50-MA located at USD 1186.75/Oz. The early gains seen in the US stocks could be restricting the metal near the hourly 50-MA. Meanwhile, the metal received support from the USD index, which declined from the high of 97.46 to trade at 97.21 levels.
Gold Technical Levels
The immediate resistance is located at 1189.46 (50-DMA), above which gains could be extended to 1193.35 (10-DMA). On the flip side, support is located at 1178.5 and 1175.00 levels.
Struggling near hourly 50-MA
The yellow metal is currently hovering around the hourly 50-MA located at USD 1186.75/Oz. The early gains seen in the US stocks could be restricting the metal near the hourly 50-MA. Meanwhile, the metal received support from the USD index, which declined from the high of 97.46 to trade at 97.21 levels.
Gold Technical Levels
The immediate resistance is located at 1189.46 (50-DMA), above which gains could be extended to 1193.35 (10-DMA). On the flip side, support is located at 1178.5 and 1175.00 levels.