Gold falls in Asia

13 Dec, 2014

Gold fell on Friday on a firm dollar and robust US economic data, but prices were set for a second straight weekly rise following gains earlier in the week from safe-haven demand. Spot gold had eased 0.7 percent to $1,219.50 an ounce by 0738 GMT. The metal has risen more than 2 percent this week, although it failed to build on strong gains that took it to a seven-week high of $1,238.20 on Wednesday.
"The 100-day moving average at $1,234 is providing stern resistance. The level has been tested three times now and on each occasion has capped the market," said Jason Cerisola, a metals dealer at MKS Group.

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