Gold trims gains, treasury yields stay flat

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - Gold prices trimmed gains in early Europe, while treasury prices stay flat as oil driven risk-on continues to keep the markets happy while heading into the weekend.

    Gold hovers around USD 1145/Oz

    Prices declined from the Asian session high of USD 1148.30/OZ to trade largely unchanged on the day around USD 1145/Oz levels. Immediately after the Fed minutes, the prices had spiked to a high of USD 1151/Oz, however, partial recovery in the USD index made sure prices fell back to USD 1140/Oz before recovering in Asia to USD 1148/Oz levels.

    Meanwhile, the 10-year treasury yields also rose to a high of 2.122% after Fed minutes and were trading around the same at the time of writing. Heading into the weekend, the markets are likely to track the movement in crude prices.

    Gold Technical Levels

    Immediate hurdle is seen at USD 1153.00, above which the resistance is seen at 1156.70 (Sept 24 high), followed by a major hurdle at 1169.99 (Aug 24 high) and 1200 levels. On the downside, a break below 100-DMA at 1143.25 would expose 1132.90 (Nov 2014 low) and 1121.50 (50-DMA).
    For more information, read our latest forex news.

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