Gold prices are stuck between the 50-DMA and the 10-DMA located at USD 1232.88 and USD 1245.24 levels respectively.
Uninspired by US jobs data
The metal hardly reacted to the release of the JOLTS job opening data, which showed there were 5.0 million job openings on the last business day of December, little changed from 4.8 million in November. The metal continues to trade largely unchanged post the data at USD 1237.5/Oz levels. Gains are being capped by a rise in the US Treasury yields, while the losses are being restricted by the Greek debt issue and tensions in Ukraine.
Gold Technical Levels
The immediate support is located at 1232.88 (50-DMA), under which losses could be extended to 1228.4 (Feb. 6th low) levels. On the flip side, resistance is seen at 1245.24 (200-DMA) and 1251.9 (Jan. 29th low) levels.
Uninspired by US jobs data
The metal hardly reacted to the release of the JOLTS job opening data, which showed there were 5.0 million job openings on the last business day of December, little changed from 4.8 million in November. The metal continues to trade largely unchanged post the data at USD 1237.5/Oz levels. Gains are being capped by a rise in the US Treasury yields, while the losses are being restricted by the Greek debt issue and tensions in Ukraine.
Gold Technical Levels
The immediate support is located at 1232.88 (50-DMA), under which losses could be extended to 1228.4 (Feb. 6th low) levels. On the flip side, resistance is seen at 1245.24 (200-DMA) and 1251.9 (Jan. 29th low) levels.
