Gold poised for another weekly gain

FXStreet (Córdoba) - Spot gold is trading steady on Friday, hovering around $1,318, at the same price level it closed on Thursday. During the European session bottomed at $1,313 and then bounced to the upside, reaching a daily high at $1,323. Price action remained inside yesterday's trading range.

XAU/USD: second weekly gain in a row

The yellow metal is about to close in positive territory for the second week in a row, on a recovery mode after slumping for two weeks, when the value of the ounce fell from $1,391 to $1,277.

On Monday, XAU/USD opened barely above $1,300, then fell to $1,295 only to gain strength and resumed the upside, printing a two week high on Thursday at $1,324.50.