Get 40% Off
🔥 This hedge fund gained 26.16% in the last month. Get their top stocks with our free stock ideas tool.See stock ideas

XAU/USD: Spot Gold Fell Sharply

Published 12/03/2013, 04:13 AM
Updated 02/21/2017, 08:25 AM
XAU/USD
-
GC
-

XAU/USD

Spot Gold lost ground and fell sharply, after loss of initial support and near-term consolidation floor at 1234, accelerated bears through 1226, 25/11 previous low. Losses dipped to 1217 so far, just ahead of initial target at 1215, 08/07 low, with corrective rally on oversold near-term studies seen preceding fresh weakness. Negative technicals support the notion, with corrective rallies to be ideally capped 1234, previous low and 50% of 1254/1217 descend before bears re-assert. Break below 1217/15 to open 1207, 05/07 low, en-route to psychological 1200 support and key level ay 1180, 28/06 annual low.

Resistance: 1227; 1234; 1240; 1245

Support: 1219; 1215; 1207; 1200

<span class=XAU/USD Hour Chart" title="XAU/USD Hour Chart" width="800" height="400">

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.