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23 Feb 2015
Gold resilient in EUR terms
FXStreet (Mumbai) - Gold prices remain resilient in the EUR terms as the shared currency continues to weaken on concerns whether the Greece’s list of reforms will be accepted by the Eurogroup tomorrow.
The metal currently trades at EUR 1055.90/Oz; down just 0.05% so far. Meanwhile, international Gold prices are down almost 1% at USD 1193/Oz levels. Investors took heart from the news that Greece has been granted a four month extension on Friday. However, the details revealed that the extension is still not final as Greece has to come up with a list of reforms that are acceptable to the Eurogroup. Only then the four month extension would be granted.
Gold (EUR) Technical Levels
The immediate resistance is located at 1060.10 and 1070.00 levels. On the flip side, immediate support is seen at 1042 and 1018 levels.
The metal currently trades at EUR 1055.90/Oz; down just 0.05% so far. Meanwhile, international Gold prices are down almost 1% at USD 1193/Oz levels. Investors took heart from the news that Greece has been granted a four month extension on Friday. However, the details revealed that the extension is still not final as Greece has to come up with a list of reforms that are acceptable to the Eurogroup. Only then the four month extension would be granted.
Gold (EUR) Technical Levels
The immediate resistance is located at 1060.10 and 1070.00 levels. On the flip side, immediate support is seen at 1042 and 1018 levels.