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3 Mar 2014
Gold rises to 4-month highs, above $1,350
FXStreet (Córdoba) - Gold soared on Monday and peaked during the American session at $1,354.55, hitting the highest price since October 30, 2013. The yellow metal jumped as the crisis in Ukraine escalated. The value of the ounce is headed toward the first daily close above $1,350 in four months, $30 above Friday’s closing price.
Bullish momentum continues
During February XAU/USD posted the second monthly gain in a row, extending the recovery from $1,180 (December low) and continues to break key resistance levels. On Monday, broke above $1,345 that capped the upside last month.
To the upside immediate resistance lies at $1,355 (daily high) and above at $1,361.50 (October 8 high). To the downside support levels could be located at $1,345 and below here at $1,329/32 and $1,320 (February 28 low).
Bullish momentum continues
During February XAU/USD posted the second monthly gain in a row, extending the recovery from $1,180 (December low) and continues to break key resistance levels. On Monday, broke above $1,345 that capped the upside last month.
To the upside immediate resistance lies at $1,355 (daily high) and above at $1,361.50 (October 8 high). To the downside support levels could be located at $1,345 and below here at $1,329/32 and $1,320 (February 28 low).