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27 Feb 2014
Gold retreats from 3-month highs
FXStreet (Córdoba) - Gold ended lower on Wednesday, posting the first decline after rising it the previous four trading days. Early in Asia has been able to rise back toward $1,330.00 but still seems under pressure.
From monthly highs to 2-day lows
The yellow metal climbed yesterday to $1,345.30 reaching the highest price since October 30 but lost momentum on European hours and plummeted in New York. It bottomed at $1,322 hitting a 2-day low.
During the last hours of the American session trimmed losses and finished hovering around $1,330.00, $11 below the price it opened on Wednesday.
The decline could signal a pause in the rally of gold, that has risen more than $100 since the beginning of the year. Despite recent pullback is still headed toward the fourth weekly gain in a row.
From monthly highs to 2-day lows
The yellow metal climbed yesterday to $1,345.30 reaching the highest price since October 30 but lost momentum on European hours and plummeted in New York. It bottomed at $1,322 hitting a 2-day low.
During the last hours of the American session trimmed losses and finished hovering around $1,330.00, $11 below the price it opened on Wednesday.
The decline could signal a pause in the rally of gold, that has risen more than $100 since the beginning of the year. Despite recent pullback is still headed toward the fourth weekly gain in a row.