Gold / 05/01/2015 10:48:29 Dollar Index Should be FollowedLast Friday, gold price declined due to dollar index rose above till 91,00 level. But ISM manufacturing index and construction spending could not meet the expected in the US side later in the day. In this context gold price appreciated. Also gold price continues to appreciate in the new week.
Today San Francisco Fed president Williams speech will be followed by the markets in the US side.
Technically gold is trading above the 1187 level. In case of the gold staying above the this level, then the 1192 and the 1200 level would be aimed. However in case of the pair breaking the 1187 support level, then the 1175 level would be tested.