Gold stabilizes above $1130
FXStreet (Córdoba) – Gold is trading around $1133, down almost $5 from Friday’s closing price. It is the first decline since last Tuesday. From Wednesday to Friday rose 3% and today is retreating 0.50%.
XUA/USD rally eases
The price of the yellow metal bottomed during September at $1098 XUA/USD (Sep 11 low) and then turned to the upside, accelerating since Wednesday. On Friday peaked at $1141.60/oz hitting the strongest since September 1.
Today is pulling back but stills hold above the $1130 XUA/USD support area, that capped the decline earlier.
Gold short term levels to watch
To the upside immediate resistance lies at $1135, $1140 XUA/USD (daily high) and $1148. On the flip side, support might be located $1129.70 (daily low), $1123 and $1115 XUA/USD.
Gold is trading around $1133 XUA/USD, down almost $5 from Friday’s closing price. It is the first decline since last Tuesday. From Wednesday to Friday rose 3% and today is retreating 0.50%.
(Market News Provided by FXstreet)