25 Jul 2014
Gold recovers and rises back above $1,300
FXStreet (Córdoba) - Gold surged on Friday and rose back above $1,300. The value of the ounce dropped yesterday to $1,287 and then rebounded slightly toward $1,295. During the American session the yellow metal gained momentum and jumped from $,1294 to $1,303.
The price managed to finish in positive ground on Friday after falling in the previous three trading days. Despite the recorecy XAU/USD finished the week with a decline of $7 but far from the lows.
Gold technical levels
The price of the metal continues to face some pressure as it trades below a downtrend in the 4-hour charts, facing resistance in the short term around $,1305; a break higher could support further gains in the price. To the downside, the area around $1,290 has become an important support and a break lower could trigger a bearish run.
The price managed to finish in positive ground on Friday after falling in the previous three trading days. Despite the recorecy XAU/USD finished the week with a decline of $7 but far from the lows.
Gold technical levels
The price of the metal continues to face some pressure as it trades below a downtrend in the 4-hour charts, facing resistance in the short term around $,1305; a break higher could support further gains in the price. To the downside, the area around $1,290 has become an important support and a break lower could trigger a bearish run.