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29 Jul 2014
Gold drops sharply from 1-week highs
FXStreet (Córdoba) - Gold reversed sharply and tumbled from 1-week highs at $1,312 to $1,296 reaching the lowest price in two days. The yellow metal fell $15 in a two hours as the US dollar gained momentum across the board.
XAU/USD levels to consider
Currently the ounce is trading barely below $1,300 down 0.40% for the day. Price remains under pressure. The immediate support could be located at $1,294 followed by $1,290 and $1,287 (last week lows).
To the upside, resistance might lie at $1,306 and above here at $1,312 (daily high) and then at $1,318 (July 21 high).
XAU/USD levels to consider
Currently the ounce is trading barely below $1,300 down 0.40% for the day. Price remains under pressure. The immediate support could be located at $1,294 followed by $1,290 and $1,287 (last week lows).
To the upside, resistance might lie at $1,306 and above here at $1,312 (daily high) and then at $1,318 (July 21 high).