Tuesday, September 22, 2015

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 (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 support area, that capped the decline earlier.

Gold short term levels to watch

To the upside immediate resistance lies at $1135, $1140 (daily high) and $1148. On the flip side, support might be located $1129.70 (daily low), $1123 and $1115.
For more information, read our latest forex news.

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