SUBSCRIBE TO FEEDFXstreet.com (Barcelona) – Gold failed to maintain its dominant upside rally and gave up $1,200.00 mark on Wednesday, moving further down capped by $1,186.00. While the price picked up softly to the upside to end at $1,193.00, a minor downmove took the precious metal to currently stay at $1,191.00.
Behind the bearish spike which erased nearly $35 off gold’s value, is a jittery market with high volatility and a rare strength in the single currency, trimming yesterday’s losses against the Dollar to end above 1.2400 band. Mounting pressure on a corrective run finally weighed down on gold, as investors largely agreed to take profits.
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