call now ;8077496040,8077496040
(whatsapp available here)
Gold prices on Comex are seen extending the Asian recovery in the European session, as the US dollar continues to lag against its major rivals following the unimpressive US inflation report and a recovery in the Emerging Markets (EM) currencies.
The bulls have regained control after the overnight drop to near $ 1205 levels, mainly driven by the renewed selling interest seen around the US dollar, as the European traders hit their desks and digest the downbeat US CPI figures.
However, it remains to be seen if the yellow metal can sustain the bounce amid a fresh bid tone caught by the Treasury yields across the curve, as easing US-Sino trade tensions lift the appetite for the higher-yielding assets.
Gold Technical Levels
Resistances: $ 1218 (2-week tops), $ 1222.83 (daily R1/ Fib R2), $ 1230 (round figure).
Supports: $ 1203.68 (5-DMA), $ 1200 (psychological level), $ 1190.40 (Sept 11 low).