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16 May 2014
Gold rebounds at $1,287
FXStreet (Córdoba) - Spot gold is falling on Friday for the second day in a row but after Wall Street opening managed to move off lows. Price bottomed after the release of US housing data and tumbled to $1,287 reaching the lowest price since Monday.
Price rebounded from the lows and rose to $1,295. Currently trades at $1,293, down 0.05% for the day and headed toward a modest weekly gains.
XAU/USD remains in range
Since the week of April 20, gold has been trading around $1,290, unable to consolidate above $1,300 but rebounded near $1,277. After rising sharply in the first two months of 2014, reaching $1,400, then pulled back sharply in March and since April is consolidating.
Price rebounded from the lows and rose to $1,295. Currently trades at $1,293, down 0.05% for the day and headed toward a modest weekly gains.
XAU/USD remains in range
Since the week of April 20, gold has been trading around $1,290, unable to consolidate above $1,300 but rebounded near $1,277. After rising sharply in the first two months of 2014, reaching $1,400, then pulled back sharply in March and since April is consolidating.