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18 Apr 2014
Golden bug is in retreat
FXStreet (Moscow) - Gold keeps below 1300/oz level (currently at 1294/oz) during light Asian trading
Gold aims at monthly lows
Gold closed below the pivotal 1300 level for the first time since the beginning of April and had the third negative day in a row. This precious metal reached local high at $1331 April 14 and resumed the downside on the back of profit-taking. The daily close below psychologically important 1300 level that coincides with 200-moving average is a strong bearish signal, which means that the prices may return to monthly lows of 1280.
Gold aims at monthly lows
Gold closed below the pivotal 1300 level for the first time since the beginning of April and had the third negative day in a row. This precious metal reached local high at $1331 April 14 and resumed the downside on the back of profit-taking. The daily close below psychologically important 1300 level that coincides with 200-moving average is a strong bearish signal, which means that the prices may return to monthly lows of 1280.