Gold 2015-01-27

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GOLD 1280

Gold on demand as haven

market jumped into haven Gold after SNB announced last week the ending of exchange rate cap with Euro which placed demand for haven over short-run

while European finance ministers agreed to work with the new Greek prime minister to keep the country in the euro which helped to dump safe haven demand

market managed to jump above 1296 which adding more advance for Gold where 1310 and 1325 is now possible targets

as we see over the chart market facing resistance trends around 1325-30 zone , which may face some selling positions at market there

if market failed to break above 1330 another drop toward 1270 will be expected where trading zone between 1270 – 1330 may occur

main support for the short-run at 1238

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 1270 1310
Level 2 1263 1325-30
Level 3 1255 1345

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