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12 Aug 2014

Gold erases gains, back to $1,310

FXStreet (Córdoba) - The yellow metal rose before the American session from $1,305 to $1,317 hitting the highest price since Friday but then reversed and erased gains.

Gold recently fell to $1,307 and currently trades at $1,309, slightly higher for the day, but far from the highs and closer to daily lows that lie around $1,305.

The area around $1,305 is an important short term support area, that XAU/USD tested during the last three trading days. A break lower would expose $1,300. To the upside, the price of the metal found resistance below $1,320.
Aug 12, 2014

Investors escaping European weakness - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman figures that continued weakness in European data could further substantiate the asset rotation theory in global assets.
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Aug 12, 2014

USD/CAD extends decline to 1.0910 amid Canadian job error

After a brief bounce from 1.0930 to 1.0945, the USD/CAD resumed its downtrend and it declined fast to break the 1.0930 and 1.0915 and to reach fresh daily lows around 1.0910.
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