OctaFX | OctaFX Forex Broker
Anmelden
Konto eröffnen
Back

Gold supported around $ 1132 in Asia

FXStreet (Mumbai) - The yellow metal keeps its upbeat momentum intact and consolidates to the upside in the Asian morning, after the bullion rebounded on Wednesday following increased bids for safe-haven assets after weaker Chinese manufacturing data.

Awaits US data for further direction

Currently, gold trades modestly flat at 1132.10, recovering from a dip to 1129.90 lows. Gold price held on to yesterday’s gains and extends further as Japanese traders on their return after a long break; digest the tepid Chinese macro-data and the recent speculations over Fed policy.

Moreover, mixed performance of the Asian equities also lifts the demand for gold as a higher yielding asset.

Meanwhile, the US dollar appeared to have lost some steam following three days of gains, with the USD index tracking the currency's performance against a basket of major peers was flat on Thursday.

Looking ahead, bigger USD moves in the markets can be expected later today as the US is due to release fresh August data for durable goods orders which may have major impact on the buck.

Gold Technical Levels

The metal has an immediate resistance at 1135 (Sept 22 High) and 1138.50 (Sept 21 High) levels. Meanwhile, support stands at 1128.30 (Sept 23 Low) below which doors could open for 1120 levels.

NZD/USD: target below 0.6235 - Westpac

Imre Speizer, analyst at Westpac explained that they remain bearish on the NZD and target a break below 0.6235 this week.
Mehr darüber lesen Previous

Asian stocks trade mixed, Nikkei tumbles on re-open

A mixed performance in equities is witnessed across the Asia, with Australia’s ASX rebounding after yesterday’s steep losses while the Japan’s stocks plunged, catching-up with markets after a three-day break.
Mehr darüber lesen Next
Livechat starten