24 Jul 2013
Gold correction higher continues
FXstreet.com (Barcelona) - Correction higher in Gold continues now trading near session and fresh 5-week highs around the $1345 for the August futures contract, that will have its “last trading day” next week before expiration and roll for the October's one.
The precious metal is up more than +3.5% for the week so far, once it managed to break above key resistance at the $1300 ask line during the weekly open Monday in the Asia-Pacific. Silver is also higher but still contained below the $20.65 level, a +5.1% higher for the week so far.
Oil in the other hand stalled the decline above the $105.5 level to trade last above the $107 handle, slightly in the negative for the week so far, once Friday printed fresh 15-month highs above the $109 mark.
The precious metal is up more than +3.5% for the week so far, once it managed to break above key resistance at the $1300 ask line during the weekly open Monday in the Asia-Pacific. Silver is also higher but still contained below the $20.65 level, a +5.1% higher for the week so far.
Oil in the other hand stalled the decline above the $105.5 level to trade last above the $107 handle, slightly in the negative for the week so far, once Friday printed fresh 15-month highs above the $109 mark.