20 Mar 2014
Gold finds support at $1,320
FXStreet (Córdoba) - Spot gold is falling moderately on Thursday, headed toward the fourth daily decline in a row. Price bottomed during the European session at $1,320 hitting the lowest price since February 28.
From Monday’s highs to today’s lows price fell $74. After finding support around $1,320 price bounced and rose toward $1,330. At the moment of writing trades at $1,328, $3 below Wednesday’ closing price.
A stronger US dollar boosted by actions taken by the Federal Reserve and Janet Yellen’s outlook on interest rates pushed the price of the yellow metal to the downside. Gold is about to post the first weekly decline after rising in the previous six week and the worst result since September.
From Monday’s highs to today’s lows price fell $74. After finding support around $1,320 price bounced and rose toward $1,330. At the moment of writing trades at $1,328, $3 below Wednesday’ closing price.
A stronger US dollar boosted by actions taken by the Federal Reserve and Janet Yellen’s outlook on interest rates pushed the price of the yellow metal to the downside. Gold is about to post the first weekly decline after rising in the previous six week and the worst result since September.