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15 Dec 2014
Gold under pressure at start of week – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, notes that XAU/USD has continued its downward movement of last week, posting losses on Monday’s trade.
Key Quotes
“Gold has posted losses on Monday, continuing the downward movement we saw late last week. In the European session, the spot price stands at $1211.19. In the US, there are no major events to start off the week, but the markets will be keeping an eye on manufacturing numbers, with the release of the Empire State Manufacturing Index and Industrial Production. Both indicators are expected to improve, which could give the US dollar a boost.”
“XAU/USD has shown little movement in the Asian and European sessions. On the upside, 1215 was tested in the Asian session and remains under pressure. 1240 is stronger. The round number of 1200 is an immediate support line.”
“Current range: 1200 to 1215”
Key Quotes
“Gold has posted losses on Monday, continuing the downward movement we saw late last week. In the European session, the spot price stands at $1211.19. In the US, there are no major events to start off the week, but the markets will be keeping an eye on manufacturing numbers, with the release of the Empire State Manufacturing Index and Industrial Production. Both indicators are expected to improve, which could give the US dollar a boost.”
“XAU/USD has shown little movement in the Asian and European sessions. On the upside, 1215 was tested in the Asian session and remains under pressure. 1240 is stronger. The round number of 1200 is an immediate support line.”
“Current range: 1200 to 1215”