Friday, May 9, 2014

Gold fall again.

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.

Posted by DigitalBiz at 10:48 AM

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