Gold falls to 200-hour MA at 1,213.25

FXStreet (San Francisco) - The gold fell $11 from 1,224 at the beginning of the week to find support at the level of MA 200 hours level at 1,213.25.

At this level, the yellow metal experienced some buying interest that sent it back to the current 1,216.90. Gold is starting the week with losses after advancing for two weeks.

Gold Levels

The XAUUSD is currently trading at 1,216.80; if the metal consolidates its bounce, it will find resistances at 1,220.80, 1,224.00 and 1,226.25. To the downside, supports are at 1,213.25, 1,209.00 and 1,203.90.

Dec 15, 2014

The week ahead and key events - Rabobank

Analysts at Rabobank explained the events ahead this week while noting the Siege in Australia today that has grabbed the markets attention.

Oil and the Nikkei bouncing back

Oil has taken a further hit on the open of the week with comments coming over the weekend from OPEC officials, UAE minister of energy, who explained that they will not even cut supply at $40. This is giving the green light for sellers to keep on with the offer.