Following the gold movements during this week
and despite all the positive US
data, the gold which retreated for hours to the lowest level of 1188 rebounded
directly to the initial resistance 1199, which fell back again
But gold trading and the pattern of price
action is considered to be accidental so far, which means that we are waiting
to move in one direction and sharply during the coming period
We may see a test for higher levels but a break
above the 1207 level will be the signal we are waiting to open for big deals on
gold with targets around 1235 and 1275
We expect to end the year near the 1300 levels
anyway. If the United States
faces political crises during the rest of the year, we may go quickly to our
core targets at 1450
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