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15 Jan 2015
Gold trades near 200-DMA ahead of US jobless data
FXStreet (Mumbai) - Gold prices hover near the 200-DMA located at USD 1254 ahead of the data in the US which is likely to show the number of people filing for jobless claims for the first time declined in the last week.
The yellow metal currently trades 1.6% higher for the day at USD 1254.30/Oz levels, after having declined from a high of USD 1261.00/Oz hit earlier today. The metal received support from the decline in the bond yields across Europe and US after the Swiss National Bank cut interest rates to -0.75%. The markets now await initial jobless claims data for the week ended Jan. 9, which is expected to come-in at 290K, down 4K from the previous week’s print of 294K.
Gold Technical Levels
The immediate resistance is seen at 1261, above which gains could be extended to 1272.40 levels. Meanwhile, support is seen at 1250 and 1244.40 levels.
The yellow metal currently trades 1.6% higher for the day at USD 1254.30/Oz levels, after having declined from a high of USD 1261.00/Oz hit earlier today. The metal received support from the decline in the bond yields across Europe and US after the Swiss National Bank cut interest rates to -0.75%. The markets now await initial jobless claims data for the week ended Jan. 9, which is expected to come-in at 290K, down 4K from the previous week’s print of 294K.
Gold Technical Levels
The immediate resistance is seen at 1261, above which gains could be extended to 1272.40 levels. Meanwhile, support is seen at 1250 and 1244.40 levels.