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11 Mar 2015
Gold hits session lows
FXStreet (Mumbai) - Gold prices fell to a low of USD 1151.1/Oz in the early US session, after having declined from the high of USD 1165.1/Oz.
Uptick in US stocks weighs over Gold
The US stock markets have begun the day on a positive note, with the DJIA up 0.25% at 17,707 levels. The 10-year Treasury yield too, has recovered losses to trade up by 1.4 basis points at 2.142%. The 2-year yield has also edged higher by 1.6 basis points to 0.70%. The rise in the yields also caps gains the yellow metal.
The metal could drop even further, if the US equities and Treasury yields extend gains further in the day.
Gold Technical Levels
The metal currently trades at USD 1156.9/Oz levels. The immediate support is located at 1155, under which losses could be extended to 1142.8 (Nov. 30 low). On the other hand, resistance is seen at 1164.64 (5-DMA) and 1170.3 levels.
Uptick in US stocks weighs over Gold
The US stock markets have begun the day on a positive note, with the DJIA up 0.25% at 17,707 levels. The 10-year Treasury yield too, has recovered losses to trade up by 1.4 basis points at 2.142%. The 2-year yield has also edged higher by 1.6 basis points to 0.70%. The rise in the yields also caps gains the yellow metal.
The metal could drop even further, if the US equities and Treasury yields extend gains further in the day.
Gold Technical Levels
The metal currently trades at USD 1156.9/Oz levels. The immediate support is located at 1155, under which losses could be extended to 1142.8 (Nov. 30 low). On the other hand, resistance is seen at 1164.64 (5-DMA) and 1170.3 levels.