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Gold rebounds and ends week above $1,300

FXStreet (Córdoba) - Gold ended the week with modest losses, trading around $1,305/oz, $5 below the price it had a week ago. On Friday the yellow metal had a volatile session and ended lower but considerably far from the lows.

After remaining steady during the Asian session, the XAU/USD turned to the downside and plummeted quickly to $1,292 hitting the lowest price since August 5. But then rebounded and rose back above $1,310. The recovery found resistance at $1,310 and pulled back slightly to $1,305.

On a wider perspective gold continues to move sideways. During the last days the price found resistance between $1,315 - $1,320 while to the downside the area around $1,305 first and then $1,280 offered support.

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