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4 Feb 2015
Gold back above EUR 1100/Oz
FXStreet (Mumbai) - Gold in EUR terms advanced today to trade above EUR 1100 levels as the markets ignored upbeat PMI data in the Eurozone, while favoring the ongoing political developments in Greece.
Safe haven appeal
The yellow metal advanced 1.12% to EUR 1110.20/Oz levels amid ongoing political developments in Greece. The metal rose after the International Monetary Fund (IMF) said that there has been no discussions with Greece over changing the debt framework. Following Greece’s call to ditch the Troika in favor of OECD oversight, the IMF say they’ve had no talks on the matter.
Meanwhile, the markets ignored the data which showed expansion in the service sector activity in the Eurozone.
Gold (EUR) Technical Levels
The immediate resistance is seen at 1127.05, above which gains could be extended to 1140.38 levels. Meanwhile, support is seen at 110.15 and 1091.81 levels.
Safe haven appeal
The yellow metal advanced 1.12% to EUR 1110.20/Oz levels amid ongoing political developments in Greece. The metal rose after the International Monetary Fund (IMF) said that there has been no discussions with Greece over changing the debt framework. Following Greece’s call to ditch the Troika in favor of OECD oversight, the IMF say they’ve had no talks on the matter.
Meanwhile, the markets ignored the data which showed expansion in the service sector activity in the Eurozone.
Gold (EUR) Technical Levels
The immediate resistance is seen at 1127.05, above which gains could be extended to 1140.38 levels. Meanwhile, support is seen at 110.15 and 1091.81 levels.