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17 Mar 2014
Gold retreats sharply, falls below $1,370
FXStreet (Córdoba) - Gold retreated sharply during the European and the American sessions and bottomed at $1,361, reaching the lowest price since last Wednesday.
From 6-month highs to 3-day lows
The yellow metal jumped at the beginning of the week to $1,392 hitting a fresh six month high but failed to consolidate and lost momentum, accelerating to the downside afterwards. It was the fourth consecutive trading day that XAU/USD reached a multi-month high.
The value of the ounce is about to post the first daily decline in a week and the worst performance since January 30, after dropping almost $20.
Silver also fell on Monday after a strong opening. XAG/USD started trading at $21,60 but lost momentum and tumbled , ending the day at $21.15.
From 6-month highs to 3-day lows
The yellow metal jumped at the beginning of the week to $1,392 hitting a fresh six month high but failed to consolidate and lost momentum, accelerating to the downside afterwards. It was the fourth consecutive trading day that XAU/USD reached a multi-month high.
The value of the ounce is about to post the first daily decline in a week and the worst performance since January 30, after dropping almost $20.
Silver also fell on Monday after a strong opening. XAG/USD started trading at $21,60 but lost momentum and tumbled , ending the day at $21.15.