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30 Dec 2014
Gold consolidates above $1,200/oz
FXStreet (Córdoba) - Gold prices surged during the American session, jumping to a 12-day high above $1,200 an ounce, without a clear catalyst other than positioning ahead of the year-end.
The yellow metal spiked from around $1,185 an ounce to a high of $1,210 in a matter of minutes, before losing momentum. However, with the subsequent pullback being contained by the $1,200 level, the pair entered a consolidation phase during the last hours.
At time of writing, gold is trading at $1,205 an ounce, recording a 1.91% gain Tuesday. The metal is on track to post its first gain in 4 months in December and headed to close 2014 just a few bucks below its opening price.
The yellow metal spiked from around $1,185 an ounce to a high of $1,210 in a matter of minutes, before losing momentum. However, with the subsequent pullback being contained by the $1,200 level, the pair entered a consolidation phase during the last hours.
At time of writing, gold is trading at $1,205 an ounce, recording a 1.91% gain Tuesday. The metal is on track to post its first gain in 4 months in December and headed to close 2014 just a few bucks below its opening price.