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7 Jan 2015
Gold resilient in EUR terms
FXStreet (Mumbai) - Gold prices remain resilient in EUR terms during the European session despite the yellow metal weakening 0.37% against the greenback.
Gold (XAU) in EUR terms or XAU/EUR trades largely unchanged around the previous session’s closing level at EUR 1024.47/Oz levels. Moreover, the widespread expectations of a sovereign QE in the Eurozone help Gold prices remain resilient in the EUR terms. Furthermore, the renewed fears of “Grexit” are also supporting the yellow metal. On the contrary, speculation of a sooner-than-expected interest rate hike in the US is weighing over XAU/USD pair. However, the metal is likely to remain supported across the board if the equity markets continue to trade risk averse.
Gold (EUR) terms Technical Levels
The immediate support is seen at 1022.75 (5-DMA), under which prices may fall to 1013.04 (50-DMA) levels. Meanwhile, immediate resistance is seen at 1024.46 and 1026.63 levels.
Gold (XAU) in EUR terms or XAU/EUR trades largely unchanged around the previous session’s closing level at EUR 1024.47/Oz levels. Moreover, the widespread expectations of a sovereign QE in the Eurozone help Gold prices remain resilient in the EUR terms. Furthermore, the renewed fears of “Grexit” are also supporting the yellow metal. On the contrary, speculation of a sooner-than-expected interest rate hike in the US is weighing over XAU/USD pair. However, the metal is likely to remain supported across the board if the equity markets continue to trade risk averse.
Gold (EUR) terms Technical Levels
The immediate support is seen at 1022.75 (5-DMA), under which prices may fall to 1013.04 (50-DMA) levels. Meanwhile, immediate resistance is seen at 1024.46 and 1026.63 levels.