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19 Dec 2013
Gold extends decline under $1200, approaches 2013 lows
FXstreet.com (Córdoba) - Gold extended the decline during the American session and reached fresh 6-month lows at $1,187. Since the FED's announcement yesterday lost more than $40.
After a short-lived recovery on Asian hours to $1,226, the yellow metal resume the decline on the European session and continued during the American. Gold posted the lowest daily close in three years on Thursday: it was the first time it closed below $1,200 since August 2010.
To the downside, immediate support could be located at $1,179.80 where 2013 lows lie, and below at $1,168. To the upside resistance might lie at $1,200.00 and above at $1,212.00.
After a short-lived recovery on Asian hours to $1,226, the yellow metal resume the decline on the European session and continued during the American. Gold posted the lowest daily close in three years on Thursday: it was the first time it closed below $1,200 since August 2010.
To the downside, immediate support could be located at $1,179.80 where 2013 lows lie, and below at $1,168. To the upside resistance might lie at $1,200.00 and above at $1,212.00.