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19 Mar 2014
Gold drops further on FOMC and Yellen
FXStreet (Córdoba) - Spot gold dropped further after FED’s decision and also during Janet Yellen press conference, bottoming at $1,327, the lowest price since March 7. Since FOMC statement XAU/USD lost $10 and so far more than $25 for the today.
Dramatic reversal for Gold
At the beginning of the week gold jumped to levels not seen in six month and peaked at $1,394 and since then it has fallen dramatically more than $60 in just three days.
The price is headed toward the third daily decline in a row, the first time to do so since mid December. Currently is testing March lows that lie around $1,327. If it break lower it would be trading at the lowest level since February 28.
Dramatic reversal for Gold
At the beginning of the week gold jumped to levels not seen in six month and peaked at $1,394 and since then it has fallen dramatically more than $60 in just three days.
The price is headed toward the third daily decline in a row, the first time to do so since mid December. Currently is testing March lows that lie around $1,327. If it break lower it would be trading at the lowest level since February 28.