Back
4 Dec 2014
Gold eases ahead of ECB
FXStreet (Mumbai) - Gold prices declined but managed to trade above USD 1200/Oz levels as the strength in the US dollar against major currencies capped the upside.
Gold on Comex traded at USD 1202.50/Oz, down 0.52%, at the time of writing. Gold prices traded lower as traders weigh the US economic recovery ahead of Friday's non-farm payrolls. Gains in the yellow metal may also seem limited ahead of ECB Monetary Policy Meeting.
Gold Technical Levels
The metal has an immediate resistance at 1207.50 (Nov 21 High), above which gains could be extended to 1211.40 (Dec 2 High) levels. Meanwhile, support stands at 1200 (50-day SMA) and 1196 levels.
Gold on Comex traded at USD 1202.50/Oz, down 0.52%, at the time of writing. Gold prices traded lower as traders weigh the US economic recovery ahead of Friday's non-farm payrolls. Gains in the yellow metal may also seem limited ahead of ECB Monetary Policy Meeting.
Gold Technical Levels
The metal has an immediate resistance at 1207.50 (Nov 21 High), above which gains could be extended to 1211.40 (Dec 2 High) levels. Meanwhile, support stands at 1200 (50-day SMA) and 1196 levels.