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4 Dec 2014
Gold dips marginally after ECB left rates unchanged
FXStreet (Mumbai) - Gold prices dipped marginally after the European Central Bank (ECB) held the Refi rate unchanged at 0.05%.
Gold now trades at USD 1202.80/Oz levels, compared to the pre-data rate decision level of USD 1205.10/Oz levels. The Central bank maintained the deposit facility at -0.2%, the marginal lending rate at 0.3%. Moreover, the reaction in the markets has been muted as the decision to hold rates unchanged is in line with the market expectation. The markets now await the ECB press conference scheduled to 13:30 GMT.
Gold Technical Levels
Gold has an immediate resistance at 1215, above which gains could be extended to 1221.00 levels. Meanwhile, support is seen at 1200.00 and 1191.00 levels.
Gold now trades at USD 1202.80/Oz levels, compared to the pre-data rate decision level of USD 1205.10/Oz levels. The Central bank maintained the deposit facility at -0.2%, the marginal lending rate at 0.3%. Moreover, the reaction in the markets has been muted as the decision to hold rates unchanged is in line with the market expectation. The markets now await the ECB press conference scheduled to 13:30 GMT.
Gold Technical Levels
Gold has an immediate resistance at 1215, above which gains could be extended to 1221.00 levels. Meanwhile, support is seen at 1200.00 and 1191.00 levels.