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Gold hits fresh session high

FXStreet (Mumbai) - Gold prices extended gains to a session high of USD 1133.50/Oz levels on the back of moderate weakness in the US stocks and weak tone in the USD index.

Trades around 5-DMA

Prices currently hover around the 5-DMA located at USD 1131.64/Oz levels. The Wall Street got off to a nervous start as investors remained focused on the concerns of a slowdown in China and other EM economies.

The metal also remains supported on account of weak tone in the USD index, which currently trades around 96.40 levels. The sharp drop in the employment component of the preliminary Markit US manufacturing PMI also helped the yellow metal.

Gold Technical Levels

The immediate resistance is located at 1132.90 (Nov 2014 low), above which prices could rise to 1141.20 (Sep 18 high). The support is located at 1118.40 (Aug 27 low) and 1098.20 (Sep 11 low).

USD/CAD retreats from 1.3320

The US dollar remains bid against its Canadian peer on Wednesday, with USD/CAD meandering the upper band of the range near 1.3300 the figure...
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