05 Sept Thursday View

Day before yesterday's gain was all wiped out yesterday. Out of two of the support levels we mentioned yesterday 33700 (USD 1397.66) and 33387 (USD 1384.51), the previous one quite didn't hold but the later is holding as of now. The price now is in between 33700 and 33387 channel.

Fundamentally, there are two things in play at this time, middle-east Syrian tension and possible military action against it; and improving economic data and possibility of Fed's pull back of its monetary stimulus. One is good for gold and the other is not. For now, it is just a matter of time.

Stay Safe :)