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25 Feb 2014
Gold ends at 4-month highs above $1,330
FXStreet (Córdoba) - Spot gold rose more than $10 on Monday and finished at $1,336.60; posting the highest daily close since October 30.
At the beginning of the day the value of the metal fell to $1,318 but bounced to the upside and it was able to make a clear break above $1,330.00 peaked at $1,338.96. XAU/USD rose for the third day in a row extending the rally that started late in December from $1,180.
Momentum continues to favor the upside and also the short-term trend. Support levels now lie at $1,330 and below here at $1,306 (February 20 low), $1,295 and $1,278. To the upside, resistance levels could be located at $1,345.00 and above at $1,355 and $1,365.
At the beginning of the day the value of the metal fell to $1,318 but bounced to the upside and it was able to make a clear break above $1,330.00 peaked at $1,338.96. XAU/USD rose for the third day in a row extending the rally that started late in December from $1,180.
Momentum continues to favor the upside and also the short-term trend. Support levels now lie at $1,330 and below here at $1,306 (February 20 low), $1,295 and $1,278. To the upside, resistance levels could be located at $1,345.00 and above at $1,355 and $1,365.