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21 Feb 2014
Gold rises after two days of corrections
FXStreet (Córdoba) - Spot gold rose on Thursday and finished above $1,320 after soaring during the American session. Price bottomed before Wall Street opening bell at $1,307 but rebounded and after breaking above $1,315 accelerated to the upside, peaking at $1,325.00.
Gold recovering momentum
The value of the ounce managed to post gains after two days of corrections but on a weekly basis is unchanged. Early in Asia is moving slightly to the downside and trades at $1,319, practically at the same level it closed last Friday, forming so far a doji candlestick in the weekly chart that signals indefinition or exhaustion if it ends at current levels.
At the beginning of the week XAU/USD rose to $1,332.30 reaching the highest price since October 31 but lost momentum afterwards and started to move to the downside, after bouncing on Thursday at $1,307.
Gold recovering momentum
The value of the ounce managed to post gains after two days of corrections but on a weekly basis is unchanged. Early in Asia is moving slightly to the downside and trades at $1,319, practically at the same level it closed last Friday, forming so far a doji candlestick in the weekly chart that signals indefinition or exhaustion if it ends at current levels.
At the beginning of the week XAU/USD rose to $1,332.30 reaching the highest price since October 31 but lost momentum afterwards and started to move to the downside, after bouncing on Thursday at $1,307.