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11 Mar 2014
Gold testing 1,350 key level again
FXStreet (San Francisco) - After a resting day on Monday, the gold resumed its attack to the 1,350 area on Tuesday with the XAU/USD bouncing from yesterday's lows at 1,328 to test March 3, 4, 6 and 7 highs around 1,352 today.
The XAU/USD is currently trading around 1,345.73 0.46% positive on the day. "Gold has been trading sideways over the past ten days, and is clearly in search of new catalysts. There is a reluctance of aggressively push the market higher here considering the recent upside surprise”, commented the research team at UBS.
Gold levels
Above the 1,350 area, the gold would face resistances around 1,360 and 1,375. On the downside, the XAU/USD has supports at 1,328, 1,300 and 1,280.
The XAU/USD is currently trading around 1,345.73 0.46% positive on the day. "Gold has been trading sideways over the past ten days, and is clearly in search of new catalysts. There is a reluctance of aggressively push the market higher here considering the recent upside surprise”, commented the research team at UBS.
Gold levels
Above the 1,350 area, the gold would face resistances around 1,360 and 1,375. On the downside, the XAU/USD has supports at 1,328, 1,300 and 1,280.