Search ForexCrunch

GOLD: Having closed higher the past week, further bullishness is likely though hesitating on Friday.However, beware of a mild price pullback. Support comes in at the 1,110.00 level where a break will aim at the 1,200.00 level. A cut through here will open the door for move lower towards the 1,080.00 level.

Below here if seen could trigger further downside pressure towards the 1,060.00 level. Conversely, resistance resides at the 1,235.08 level where a break will aim at the 1,250.000 followed by the 1,270.00 level. A violation of here will turn attention to the 1,290.00 level. All in all, GOLD remains biased to the upside on corrective recovery.


In our latest podcast we discuss predictable currencies vs. unpredictable central banks.

Follow us on Stitcher.