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15 May 2015
Gold steadies at USD 1215 ahead of US data
FXStreet (Mumbai) - Gold prices have steadied around USD 1215/Oz levels as investors await regional manufacturing data and the industrial production data in the US.
Gold hurt by profit taking
The metal rallied more than USD 40 in the last three trading sessions. Consequently, profit taking was witnessed since the Asian session today, giving way for losses towards USD 1215/Oz levels. Ahead in the day, the metal could take cues from the US industrial production data, which is expected to expand 0.1% in April.
Meanwhile, the sentiment in the equity markets and the bond markets could also influence the metal.
Gold Technical Levels
The metal currently trades at USD 1215/Oz. The failure to sustain above 1215 could push the prices down to 1207.00. On the other hand, a break above 1220.00, could see the metal re-test 1225 levels.
Gold hurt by profit taking
The metal rallied more than USD 40 in the last three trading sessions. Consequently, profit taking was witnessed since the Asian session today, giving way for losses towards USD 1215/Oz levels. Ahead in the day, the metal could take cues from the US industrial production data, which is expected to expand 0.1% in April.
Meanwhile, the sentiment in the equity markets and the bond markets could also influence the metal.
Gold Technical Levels
The metal currently trades at USD 1215/Oz. The failure to sustain above 1215 could push the prices down to 1207.00. On the other hand, a break above 1220.00, could see the metal re-test 1225 levels.