Gold comes down to test lows around $1,325

The ounce troy of the precious metal met further downside pressure today, dropping to the area of daily troughs around $1,325.

Gold vigilant on Yellen, Fedspeak

The yellow metal is retreating for the second straight session on Wednesday, as market participants remain cautious ahead of Yellen’s testimony before the House Financial Services Committee followed by several Fed speakers: Bullard, Evans and Mester.

In addition, Gold prices remain subdued after markets perceived Democrat presidential candidate H.Clinton as winner at the recent debate vs. its Republican adversary D.Trump.

The continuation of the bid tone around the greenback today is also collaborating with the downbeat sentiment in Bullion, which has retreated from Friday’s tops near $1,345.

Gold key levels

As of writing Gold is losing 0.33% at $1,325.95 and a breach of $1,311.06 (100-day sma) would open the door to $1,311.90 (low Swp.16) and finally $1,301.50 (low Sep.1). On the other hand, the initial hurdle is located at $1,344.45 (high Sep.23) followed by $1,350.50 (high Sep.7) and then $1,366.00 (high Aug.2).