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Spot Gold


TheSurgeon

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Hi  &   good to hear from you again. TF is right in that there is so much news and a lot of it so contradictory that gold has gone a bit muh.  1290 is an interesting level on a technical basis and barring major geopolitical turmoil the technical should rule.

A reversal here should see a retest of 1260 while a break through at 1290 and successful retest should see an attempt on 1357.

 

XAUUSD(£)Daily.png1210.png

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Cheers  and , I'm not that worried about fundamentals. Gold's still being held by the central bank's (and rich people) in vaults and mining recovery rates are dropping globally so my long term bias is positive.

 

The break above the monthly downtrend seems to have bottomed at 1260 but will wait and see. 

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