26 Mar 2014
Gold hits fresh 5-week lows under $1,300
FXStreet (Córdoba) - After stabilizing on Tuesday, spot gold resume the decline on Wednesday and recently printed a fresh 5-week low at $1,298.50. Price remains below $1,300 headed toward the sixth daily loss out of the last eight trading days.
XAU/USD searching for support
The yellow metal continues to moved with a downside bias in the short-term and has fallen almost a $100 from March 17 highs. Price is looking for a support area as it keeps tumbling.
Below $1,300 potential support levels lie at $1,285, $1,278 (January 27 high) and $1,255. To the upside, resistance might be located at $1,305, $1,316 (March 25, 26 highs) and $1,325.
XAU/USD searching for support
The yellow metal continues to moved with a downside bias in the short-term and has fallen almost a $100 from March 17 highs. Price is looking for a support area as it keeps tumbling.
Below $1,300 potential support levels lie at $1,285, $1,278 (January 27 high) and $1,255. To the upside, resistance might be located at $1,305, $1,316 (March 25, 26 highs) and $1,325.