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12 Jun 2014
Gold jumps above $1,270, reaches 2-week highs
FXStreet (Córdoba) - The value of the ounce rose 1% on Thursday, having the best day in weeks and closed above $1,270. During the American session XAU/USD climbed to $1,274.80, reaching the highest level since May 27.
The yellow metal recovered further after bottoming last week at $1,240 (4-month low). A weak US dollar and tensions in Iraq favored the upside of the price of gold. Crude oil gained more than 2% while US government bonds soared.
XAU/USD technical levels
To the upside, resistance might be located at $1,275 followed by $1,280 and $1,288. On the opposite direction, support might be located at $1,265 (June 11 high) and $1,258 (June 5, 6 high).
The yellow metal recovered further after bottoming last week at $1,240 (4-month low). A weak US dollar and tensions in Iraq favored the upside of the price of gold. Crude oil gained more than 2% while US government bonds soared.
XAU/USD technical levels
To the upside, resistance might be located at $1,275 followed by $1,280 and $1,288. On the opposite direction, support might be located at $1,265 (June 11 high) and $1,258 (June 5, 6 high).