Gold recovers, holds above $1,330

FXStreet (Córdoba) - Spot gold managed to erased losses and finished flat trading at $1,339.50. During the Asian session the ounce fell to $1,328 but rebounded quickly rising back above $1,340. After Wall Street opening peaked at $1,344.50 and then retreated toward $1,340. Gold started Tuesday, steady and currently settles at $1,339.80.

The price of the yellow metal has been moving since the beginning of March between $1,355 and $1,330. Despite trading below $1,330 momentarily, it was rejected from levels below, making a recovery afterwards.

On Friday the price approached 2014 highs, but lost momentum above $1,350 and turned to the downside after the release of the US employment report.