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15 Oct 2014
Gold falls below USD 1225, Dollar Index above 86.04
FXStreet (Mumbai) - Gold prices have declined below USD 1225/Oz levels, tracking the strength in the US Dollar Index. The yellow metal fails to find any support from the decline in the European stock markets.
Gold prices have lost 0.87% today, after prices failed to sustain above USD 1230/Oz levels. Meanwhile, the US Dollar Index is trading 0.14% higher at 86.03. The index has recovered from a low of 85.89, capping gains in the Yellow metal. Moreover, Gold prices continue to fall despite the Dax and the Ftse trading 0.80% and 1.30% lower respectively.
The US ten-year treasury yields have declined below 2.2 levels, which could support gold prices
Gold Technical levels
Gold has an immediate resistance of 1225, above which doors are open for a re-test of 1230-1233 levels. Prices can fall to 1217 levels soon, if the metal fails to rise above 1225 levels.
Gold prices have lost 0.87% today, after prices failed to sustain above USD 1230/Oz levels. Meanwhile, the US Dollar Index is trading 0.14% higher at 86.03. The index has recovered from a low of 85.89, capping gains in the Yellow metal. Moreover, Gold prices continue to fall despite the Dax and the Ftse trading 0.80% and 1.30% lower respectively.
The US ten-year treasury yields have declined below 2.2 levels, which could support gold prices
Gold Technical levels
Gold has an immediate resistance of 1225, above which doors are open for a re-test of 1230-1233 levels. Prices can fall to 1217 levels soon, if the metal fails to rise above 1225 levels.