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8 Sep 2014
Gold falls to 3-month lows
FXStreet (Córdoba) - Gold resumed the decline on Monday and dropped to $1,252/oz, reaching the lowest price since June 10. The value of the ounce moved slightly to the upside during the Asian session, weakened on European hours and lost more than $10 since Wall Street’s opening bell.
The yellow metal remains near the lows, hovering around $1,253 down more than 1% and headed toward the lowest close in three months.
XAU/USD technical levels
To the downside, immediate support could be located at $1,250 and below here around the $1,240 area that capped the downside in June. If the price falls below $1,238 it would be trading at levels last seen in January. To the upside, resistance might lie at $1,261 (September 2 low) and above around $1,270.
The yellow metal remains near the lows, hovering around $1,253 down more than 1% and headed toward the lowest close in three months.
XAU/USD technical levels
To the downside, immediate support could be located at $1,250 and below here around the $1,240 area that capped the downside in June. If the price falls below $1,238 it would be trading at levels last seen in January. To the upside, resistance might lie at $1,261 (September 2 low) and above around $1,270.