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2 Mar 2015
Gold trades below 100-DMA
FXStreet (Mumbai) - Gold prices slipped below the 100-DMA located at USD 1215.53/Oz levels after the data in the US showed the core personal consumption expenditure index remained unchanged, while personal spending contracted more than expected.
Gold: Focus shifts to ISM Manufacturing print
Prices remained largely unchanged except a minor dip below 100-DMA after the release of the mixed core consumption expenditure index report and personal income and spending report. Focus no shifts to the ISM manufacturing index for February, which is expected to come-in slightly lower at 53.00, from 53.5 in January. Meanwhile, ISM prices paid is expected to come-in at 37, while construction spending is seen rising 0.3%.
Gold Technical Levels
The metal currently trades at USD 1215.00/Oz; up 0.16%. The immediate resistance is seen at at 1219.5, above which prices could re-test the daily high of 1223.1. On the flip side, support is seen at 1215.46, under which losses could be extended to 1211.76 (5-DMA).
Gold: Focus shifts to ISM Manufacturing print
Prices remained largely unchanged except a minor dip below 100-DMA after the release of the mixed core consumption expenditure index report and personal income and spending report. Focus no shifts to the ISM manufacturing index for February, which is expected to come-in slightly lower at 53.00, from 53.5 in January. Meanwhile, ISM prices paid is expected to come-in at 37, while construction spending is seen rising 0.3%.
Gold Technical Levels
The metal currently trades at USD 1215.00/Oz; up 0.16%. The immediate resistance is seen at at 1219.5, above which prices could re-test the daily high of 1223.1. On the flip side, support is seen at 1215.46, under which losses could be extended to 1211.76 (5-DMA).