11 July Thursday View

Federal Reserve's June meeting showed that many officials wanted more reassurance the job market was on solid ground before withdrawing Economic Stimulus, this suggested that it might not be as sure a bet that the U.S. Central Bank will scale back its asset buying at anytime soon. Gold reacted positively on this news easily breaking and holding 30590 (USD 1268.70) level. Now if this level 30590 (USD 1268.70) and 30000 (USD 1244.21) hold as support, we may see a further test of higher levels 31375 (USD 1301.24), 31500 (USD 1306.42) and 31869 (USD 1321.72).

Trade Happy, Trade Safe :)