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4 Jul 2014
Gold ends week slightly higher
FXStreet (Córdoba) - The yellow metal posted the fifth weekly gain in a row but with modest gains. Price ended hovering around $1,320/oz, $4 above the price it had a week ago.
During the week reached 3-month highs at $1,333/oz but failed to hold above $1,330 and pulled back. After the NFP report bottomed at $1,308 but rebounded, rising to $1,323.
XAU/USD technical outlook
The outlook for gold still favors the upside, but the bullish rally is giving signals of exhaustion considering that since June 19 it has been moving sideways most of the time and every time it broke above $1,330, quickly pulled back below.
During the week reached 3-month highs at $1,333/oz but failed to hold above $1,330 and pulled back. After the NFP report bottomed at $1,308 but rebounded, rising to $1,323.
XAU/USD technical outlook
The outlook for gold still favors the upside, but the bullish rally is giving signals of exhaustion considering that since June 19 it has been moving sideways most of the time and every time it broke above $1,330, quickly pulled back below.