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3 Apr 2014
Gold fails to hold above $1,290
FXStreet (Córdoba) - Spot gold bottomed at $1,281 on Thursday and currently is hovering around $1,285 headed toward a daily loss of 0,5%. During the Asian session price tested yesterday's highs but it failed to break $1,295 and reversed to the downside accelerating below $1,290.
After Wall Street opening bell the yellow metal approached momentarily above $1,286 but pulled back quickly.
The short term outlook for XAU/USD remains bearish with price unable to hold to gains. But for the second day in a row it does not reached fresh monthly lows, giving signals of stabilization after a sharp drop during the second half of March.
After Wall Street opening bell the yellow metal approached momentarily above $1,286 but pulled back quickly.
The short term outlook for XAU/USD remains bearish with price unable to hold to gains. But for the second day in a row it does not reached fresh monthly lows, giving signals of stabilization after a sharp drop during the second half of March.