The above marked Red horizontal line is Important pivot point, holding above it higher levels can be re-visited by Gold market, however market has found support from lower weekly levels of 1242$ earlier today. The above will be valid till coming friday.
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Gold Prices are getting Weak again…
Gold is subject to the major commodity cycles of all commodities, Last week Gold hit a reflective support price point and shows bounce which was completely unsustainable & now Prices are again near Critical Support Point
1315$ mark holding the key support for Gold on short-term basis, However later this week Important Data’s are schedule which will set the tone of market for May month, It will be most preferable if we get this week closing below 1315$.