Bullion came under pressure as a credit downgrade on Belgium's government debt by the Standard & Poor's and higher yields on Italy's debt sparked a sell off in global markets. The S&P 500 index posted its worst weekly loss in two months.
Gold's technical outlook remained vulnerable as it has failed to close above $1,700 an ounce all week and traded below its 100-day moving average, a key support it held for a month until a breach following Monday's 2.5 percent loss.
SOURCE: http://reut.rs/tfkzY0
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