28 May 2014
Gold extends slide, falls to $1,255
FXStreet (Córdoba) - The yellow metal is falling for the second day in a row and remains under pressure holding below key levels. Recently XAU/USD bottomed at $1,255.97, reaching a fresh 3-month low.
In the last two days gold has fallen almost $40, resuming the downside, after consolidating during April and most of May. The metal weakened amid a stronger US dollar and after breaking below an ascendant trendline.
XAU/USD levels to watch
To the downside, immediate support lies around $1,255 and below here at the $1,235/30 area. To the upside, resistance might be located at $1,260 and above here at $1,267 (daily high) and $1,275.
In the last two days gold has fallen almost $40, resuming the downside, after consolidating during April and most of May. The metal weakened amid a stronger US dollar and after breaking below an ascendant trendline.
XAU/USD levels to watch
To the downside, immediate support lies around $1,255 and below here at the $1,235/30 area. To the upside, resistance might be located at $1,260 and above here at $1,267 (daily high) and $1,275.