Fundamental analysis for precious metals gold

The shiny metal reached yesterday to its first target at 908 and despite it bounced back form there it remains above the 887.50 level, which still give more push to the upside rather than the downside, technical indicators are showing more weakness today in the movement and a tendency to the downside but as far as 887.50 remains intact we are still bullish on gold.

The trading range is among the key support level at 887 and the key resistance level at 925.00.

The general trend is to the upside as far as 810.00 remains intact; targets are set at 1080.00 and 1170.00.

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