Gold sideways above $1,330

FXStreet (Córdoba) - Gold finished Wednesday with a small gain trading around $1,336 consolidating after dropping sharply on Tuesday. The value of the ounce moved all day above $1,332 and peaked during the American session at $1,341.80, the highest price since Vladimir Putin recall troops on military exercises from Western borders on early on Tuesday, easing tensions in Ukraine.

Despite the pullback the yellow metal continues to hold more than $10 above the price it closed last Friday. At the moment of writing trades at $1,337, rising marginally on Asia.

XAU/USD important levels

To the upside immediate resistance lies at $1,342 (March 5 high) and above here at $1,348 and $1,355. Support levels could be located at $1,334 (rising hourly trendline), $1,330 and $1,325.