Gold – Weekly Forecast 05-09 Aug 2013

gold _ usd

The gold maintained some bullish momentum last Friday, topped at 1319 and bottomed at 1283 levels, now pressure will be on the key resistance 1319, the GOLD will have to hold above the 1319 levels on a daily closing basis to push the market for further upside gains, If seen it will target the 1347 levels, around this level we might see a halt, but a breach will turn the focus on 1385 ahead of 1423 levels.

On the downside , a failure to hold above the 1319 levels , could mean a return to the 1283,  losing this will target the 1.270 levels, below 1270 will bring a free fall towards the 1233 levels ahead of 1209 levels.




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