19 Jun 2014
Gold soars to 4-week highs, eyes $1,300 oz
FXStreet (Córdoba) - Gold is rising sharply on Thursday, more than 2% having the best day in four months. The price rose $15 in the last three hours to $1,299.80 hitting the strongest level since May 22.
Since the release of the FOMC statement it has risen $30, extending the rally from $1,240. The yellow metal is headed toward the third weekly gain in a row.
XAU/USD levels to watch
To the upside, immediate resistance lies at $1,300 followed by $1,305 and $1,315 (May 5 high). On the opposite direction, support might be located at $1,288 and then $1,285 (June 16 high) and $1,279.
Since the release of the FOMC statement it has risen $30, extending the rally from $1,240. The yellow metal is headed toward the third weekly gain in a row.
XAU/USD levels to watch
To the upside, immediate resistance lies at $1,300 followed by $1,305 and $1,315 (May 5 high). On the opposite direction, support might be located at $1,288 and then $1,285 (June 16 high) and $1,279.