9 May 2014
Gold post lowest weekly close since February below $1,290
FXStreet (Córdoba) - Spot gold fell moderately on Friday and finished hovering around $1,287, posting the lowest weekly close since February. The yellow metal managed to hold above April lows but it failed to avoid a close below $1,295.
XAU/USD away from $1,315
On Monday price started the week around $1,300 and rose to test a key short term resistance at $1,315 but failed to break above and pulled back. During Wednesday XAU/USD broke below $1,305 and plummeted falling $20.
The decline found support above $1,285 and since Thursday is moving sideways between $1,295 and $1,285.
XAU/USD away from $1,315
On Monday price started the week around $1,300 and rose to test a key short term resistance at $1,315 but failed to break above and pulled back. During Wednesday XAU/USD broke below $1,305 and plummeted falling $20.
The decline found support above $1,285 and since Thursday is moving sideways between $1,295 and $1,285.