3rd night debut gold to stand firm on three data 1200?Dollar eases slow gold see the 1200 mark back with hope. Gold prices rose more than US $ 20 overnight, hitting $ 1208.86/Oz, days of gold in the vicinity of 1200 EURUSD.
the factors in addition to the weak dollar, Greece early election triggered turmoil in the stock market in the country, to heat up the risk aversion in the market, it also indirectly support gold prices strengthen.
Greece in the third round of the presidential election, the incumbent Prime Minister Antonis Samaras Dimas of recommended candidates failed to get enough votes. Then Greece Government announced the dissolution of Parliament and elections will be held on January 25 next year.
RJO Futures Phil Streible, a senior market strategist, "said US dollar weakness, Greece unrest as well as strong correction has helped support gold, but firm in $ 1200 will remain a continuing challenge. "
night market will welcome United States three big economic data, or USD and gold collector plays a key influence.
Beijing 21:30, United States Department of Labour published first United States quarter adjusted initial claims for State unemployment benefits last week, expected value of 290,000 people in the market, the former value of 280,000 people.
after initial claims data has declined for four consecutive weeks, show that the United States labour market recovery is good. If the data continue strong or positive groundwork for next week's non-farm data. 22:40
later, United States debut December Chicago purchasing managers ' index, expected values is 60.1, the former value of 60. This data reflects manufacturing industry in production, orders, prices, employees, delivery and other aspects of development, also reflects the United States employment in the manufacturing sector.
23:00 Beijing, United States November NAR quarter pending home sales index adjusted monthly rate will be this year's last major economic data, market forecast in a 0.5%, 1.1% drop in value before.
from the three United States of data expected, United States economy is still expected to show a strong momentum, perhaps firm in 1200 is not good news for the gold. Dhwani Meht
FXStreet analysts point out that, even overnight the dollar fell, but stabilised at multi-year highs, continue weighed on gold prices. In addition, gold is at an important level of $ 1200. On the technical side, Mehta points out that initial resistance at current gold prices overnight high of $ 1209, after the break will be December 16 high of $ 1223.90. Downside, initial support at 20th averages $ 1199, 5th averages $ 1194.74 below.