GOLD ---CAN IT SOAR ABOVE 1350 AND BEYOND ??

Answer is Yes, The probability for Gold to  exceed 1350 in the next 1-2 weeks' trading days is very high indeed.

Fundamentals  on GOLD

1) The uprising on the cost of raising Funds via Bond issue from European countries to ease their escalating Financial woes is worrying 

2) More bad news from France and Spain may be arising upfront to damp the markets's sentiments further.

2) Japan is not very convincing on sustainable recovery, and deflation problems plagues her consistently

3) China is again thinking of implementing further measures to have more soft-landing on her economy, and cramping down the risk of Property bubbles and rising inflation 

4) The last US's NFP nos is very disappointing , and the expected nos in upcoming NFP next week  may not be very positive and stimulating.

5) There is a general downward momentum on the FTSE/DAX/S&P500/DJ , AS  also can be reflected in the MSCSI (World's Stock index) and US INDEX.

6) China has again shows her unwillingness to let Yuan to float freely, diminishing  the hope for rapid Yuan Appreciation, The news on last Friday from her central bank TO FURTHER RELAX her Yuan is still pending on outcome.

7) Latest nos from US on Housing data  IS DAMPING the hope for faster recovery

8) there is No Solid resolutions or Consensus derived from the Present on-going G20 meeting.

ALL the above factors are driving The Investors to a Cross Road without Direction,, as such Fear and Sentiments will force them to re-examine the locations for Safe Haven to protect their wealth/Investments.

And Gold Investment may be one of the best mean to achieve their safe haven's goal.

Technicals on Gold

Gold registered 1264.4 being its highest and closed at 1254.15 last week.

On Daily Chart, Gold closed near the upper Bollinger Bands and above the Tenkan-sen line, 

The closing candles on last Friday close on both H1 and H4 chart indicates some degree of Bull Exhaustion and it  may lead to a mild pull back soon prior to its Northern Bullish Journey., However, on longer time frames, Gold is BULLISH.

The Present Indicators may not be very reliable  for Gold beyond the recent high 1264.40 , We need to observe  its movement on next market open so as to update all technical indicators to have  a better / meaningful direction/ prediction on Gold's next Big Move.

Daily Chart for Gold below:-

H4 Chart for Gold

Happy Trading