29 Apr 2014
Gold flat for the day, after bouncing from $1,286
FXStreet (Córdoba) - Spot gold is about to finish Tuesday unchanged, after erasing losses. During the European session the yellow metal bottomed at $1,286, the lowest price in three days. After stabilizing bounced to the upside and climbed to $1,301.
The value of the ounce was unable to hold above $1,300 and pulled back. Currently trades at $1,296, around the same price level it has at the beginning of the day, consolidating barely below $1,300 ahead of key economic data from the US on Wednesday and the FOMC statement.
On a monthly basis, XAU/USD is headed toward moderate gains after plunging on March. Price found support around $1,270 - $1,277 earlier in April and peaked at $1,330, two weeks ago.
The value of the ounce was unable to hold above $1,300 and pulled back. Currently trades at $1,296, around the same price level it has at the beginning of the day, consolidating barely below $1,300 ahead of key economic data from the US on Wednesday and the FOMC statement.
On a monthly basis, XAU/USD is headed toward moderate gains after plunging on March. Price found support around $1,270 - $1,277 earlier in April and peaked at $1,330, two weeks ago.