15 Mar Friday Daily Outlook

Gold is lacking both technical momentum and investment interest to recover significantly from current level says a note from Credit Suisse.

If we look at chart, it is clearly holding current level and not giving up to the Bears. But at the same time it is not being able to push the prices further up ahead either.

'The US stock market is increasingly viewed as Gold's main 'competition' for investment dollars', says Ed Meir metal analyst at brokerage INTL FCStone.

As long as 38225 holds, it could test 38550 and if that is broken, then 38650 and 39000 level. On the other hand, if 38225 is broken and held, 37550 should provide some support for now.

Happy and Safe Trading :)