XAU/USD at 3½ Month High - Next Resistance USD 1488
Saxo Bank | Aug 28, 2013 07:23AM ET
Due to tensions in Syria XAUUSD could extend its rebound. It is currently trading at a 3½ month high.
Gold has risen about 21 percent since its low at the end of June and quoted in Indian rupees, it has broken a new all-time high.
If gold stays above USD 1424 the next real resistance level is at USD 1488.
Support is to be expected at the 100-day moving average (USD 1361) and at USD 1350.
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