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23 Jan 2015
Gold trades above EUR 1150 after ECB announced QE
FXStreet (Mumbai) - Gold prices extended gains today to trade above EUR 1150/Oz levels after the European Central Bank announced an unprecedented bond purchase program yesterday.
The XAU/EUR pair or Gold in EUR terms currently trades 0.58% higher at EUR 1152.36/Oz levels, compared to the previous session’s close at EUR 1146.59/Oz levels. The metal is up EUR 50/Oz from the previous session’s low after the ECB asset purchase program exceeded the market expectations in terms of size. Moreover, the central bank expressed readiness to purchase bonds having negative yields. The metal continued to extend gains today as attention now shifts to the Greek vote on Sunday.
Gold (EUR) Technical Levels
The metal has immediate support at 1170, above which it could test 1200 levels. Meanwhile, support is seen at 1127 and 1100 levels.
The XAU/EUR pair or Gold in EUR terms currently trades 0.58% higher at EUR 1152.36/Oz levels, compared to the previous session’s close at EUR 1146.59/Oz levels. The metal is up EUR 50/Oz from the previous session’s low after the ECB asset purchase program exceeded the market expectations in terms of size. Moreover, the central bank expressed readiness to purchase bonds having negative yields. The metal continued to extend gains today as attention now shifts to the Greek vote on Sunday.
Gold (EUR) Technical Levels
The metal has immediate support at 1170, above which it could test 1200 levels. Meanwhile, support is seen at 1127 and 1100 levels.