8 May 2014
Gold falls again, ends below $1,290
FXStreet (Córdoba) - Spot gold lost ground on Thursday for the third day in a row and finished hovering around $1,288 with a small loss. On Wednesday XAU/USD plummeted and fell almost $20 and on Thursday reached fresh four day lows at $1,285.
Price moved sideways all day without a clear trend. During the European session peaked at $1,295 but failed to hold and pulled back quickly below $,1290. On American hours price action remained limited.
The yellow metal is headed toward the second weekly loss in a row and about to finish far from the highs. In the previous days XAU/USD traded above $1,315 but it was rejected and finally retreated sharply, approaching April lows.
Price moved sideways all day without a clear trend. During the European session peaked at $1,295 but failed to hold and pulled back quickly below $,1290. On American hours price action remained limited.
The yellow metal is headed toward the second weekly loss in a row and about to finish far from the highs. In the previous days XAU/USD traded above $1,315 but it was rejected and finally retreated sharply, approaching April lows.