Gold slightly slumps after reaching four-month high

Source: Bloomberg
© Scanpix/Reuters
Before the ECB policymakers' meeting taking place to discuss the the new stimulus introduction prices for gold rose to a four-month high. Immediate delivery price lost 0.4% to $1,275.09 per ounce after reaching the highest level of $1,283 since the beginning of September. Futures for February fell to $1,275.10, compared to last week's $1,276.40. Due to gold prices skyrocketing in trading hours, the RSI went over the 70 level, which signals that prices might soon rebound and fall further. Amid weaker Euro, gold is supposed to slump as well, but it remains supported with haven demand.
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