FXstreet.com (Córdoba) - Gold fell to a 20-day low on Thursday amid investors' skepticism the EU Summit could provide any concrete solution to tackle the worsening euro zone crisis, as its commodity status predominated over its safe-haven role.
Gold reversed early gains, and fell through the $1,560 support to hit its lowest level in 20 days near $1,552 an ounce. The yellow metal was last at $1,555 an ounce, recording a 1.2% loss on the day.
From a technical view, Anton Kolganov, analyst at ForexMillion locates next supports at 1552 and 1547, while he sees resistances at 1578 and 1592.
Gold reversed early gains, and fell through the $1,560 support to hit its lowest level in 20 days near $1,552 an ounce. The yellow metal was last at $1,555 an ounce, recording a 1.2% loss on the day.
From a technical view, Anton Kolganov, analyst at ForexMillion locates next supports at 1552 and 1547, while he sees resistances at 1578 and 1592.
