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28 Aug 2013
Gold posts fresh 3-month highs on Syria tensions escalating
FXstreet.com (Barcelona) - With Gold closing in NY for second consecutive day above the $1400 handle adding +0.78% gains for the day, last at $1417, the yellow metal links 5 straight days in the positive since August 22 when bounced from above the $1350 mark, partially helped on growing tensions surrounding US military intervention in Syria.
Silver also added +0.78% gains at the NY close last trading at $24.55, already heavily overbought with daily RSI 14 reading above the 80 level. The Gold:Silver ratio moved today a +0.76% in favor of Gold, once Silver regained near +10% since the start of August over Gold.
Iron Ore keeps capped below the 62.8% retrace of latest down leg in dailies $161/$112 at $142, last around the $141.25 level. Copper in the otther side closed Tuesday in NY marginally lower by -0.06%, last at $3.32, off daily highs at $3.37, limited below strong ask line around the $3.37-$3.38 price zone.
Silver also added +0.78% gains at the NY close last trading at $24.55, already heavily overbought with daily RSI 14 reading above the 80 level. The Gold:Silver ratio moved today a +0.76% in favor of Gold, once Silver regained near +10% since the start of August over Gold.
Iron Ore keeps capped below the 62.8% retrace of latest down leg in dailies $161/$112 at $142, last around the $141.25 level. Copper in the otther side closed Tuesday in NY marginally lower by -0.06%, last at $3.32, off daily highs at $3.37, limited below strong ask line around the $3.37-$3.38 price zone.