GOLD / 16/12/2014 08:08:10 1192 Support Is ImportantYesterday; USA Empire manufacturing index declined unexpectedly, while industrial production and capacity utilization rate were above the market expectation. Gold prices tested 1218 during the day, but later declined and broke 1208 level downwards. Gold seemed to be under sales pressure before FED decisions. In Asian session,...
China HSBC manufacturing PMI was announced as 49,5, both below expected level and base value 50.
Today; USA building permits and housing starts will be followed.
Technically; gold’s support seems as 1192 level. If gold stays below 1201 level, then 1192 support would be aimed. If gold breaks 1201 resistance, then 1208 resistance should be followed. With breaking of 1192, sales pressure on gold may increase.