Gold 2015-02-03

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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 last month 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

market managed to obtain drop correction where managed to test 1255 support zone , while as long as market holding trades above 1238 another rebound toward 1320-30 zone will be expected , below 1235 market may sustain drop toward 1180

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 1250-55 1285
Level 2 1238 1297
Level 3 1210 1310

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