18 Jun 2014
Gold rallies after FED, rises above $1,275
FXStreet (Córdoba) - Gold strengthened after the FOMC statement and managed to break above $1,275 and printed a fresh high at $1,278.60 oz. Immediately after the FOMC decision price fell to $1,267 but then bounced sharply to the upside as the US dollar tumbled across the board.
The yellow metal is about to post the highest daily close since May 26, rising again after falling in the previous two trading days and extending the reversal that started yesterday, when XAU/USD fell to $1,258.
With Wednesday’s gains gold has been able to erase weekly losses and is back where it started the current week, but still far from Monday’s high that lie at $1,284.
The yellow metal is about to post the highest daily close since May 26, rising again after falling in the previous two trading days and extending the reversal that started yesterday, when XAU/USD fell to $1,258.
With Wednesday’s gains gold has been able to erase weekly losses and is back where it started the current week, but still far from Monday’s high that lie at $1,284.