8 Apr 2014
Gold pulls back from 2-week highs
FXStreet (Córdoba) - Spot gold rose sharply during the European session and climbed to $1,314 after breaking above $1,305, hitting the strongest level since March 26. Price retreated slightly afterwards to $1,311 and following Wall Street opening bell pulled back further. Currently trades at $1,307 up 0.80% for the day.
On Tuesday XAU/USD regained the upside after falling moderately on Monday, on what could be considered a correction. The yellow metal holds a bullish bias in the short term, recovering after tumbling during the second half of March from $1,391 to $1,277.
In the last hours price has moved away from the highs but is still headed toward the strongest close since late March as long as it holds above $1,303.
On Tuesday XAU/USD regained the upside after falling moderately on Monday, on what could be considered a correction. The yellow metal holds a bullish bias in the short term, recovering after tumbling during the second half of March from $1,391 to $1,277.
In the last hours price has moved away from the highs but is still headed toward the strongest close since late March as long as it holds above $1,303.