Back
15 May 2014
Gold fails to hold above $1,300
FXStreet (Córdoba) - Gold weakened after the release of US economic data and plummeted from $1,305 to $1,290 reaching the lowest price since Tuesday. The value of the ounce rebounded and rose to $1,303 but failed to hold above $1,300.
The yellow metal is losing 0.75% on Thursday as currently trades at $1,295. Despite falling today, the price is still up for the week, gaining $10 and far from the lows.
XAU/USD key levels
To the downside, the area around $1,277 is still an important support, from where the price rebounded on Monday. On the opposite direction, around $1,308 there is a short term downtrend line and above here the next resistance to consider lies at $1,315.
The yellow metal is losing 0.75% on Thursday as currently trades at $1,295. Despite falling today, the price is still up for the week, gaining $10 and far from the lows.
XAU/USD key levels
To the downside, the area around $1,277 is still an important support, from where the price rebounded on Monday. On the opposite direction, around $1,308 there is a short term downtrend line and above here the next resistance to consider lies at $1,315.