Fundamental Reports

Gold lead numerous attempts by the end of last week to steady above the key resistance level for the triangular technical pattern yet they all failed as the four-hour closing was seen below 751.85 and for that the gold is still heading to the downside over the short term despite the high volatility; if the resistance level at 751.85 today remains intact the intraday downside wave will be seen though over short term basis the metal might resume to the sideways wave among 696.20 and 763.15 levels.

The trading range is among the key resistance level at 783.20 and the key support level at 678.25.

The general trend is to the downside as far as 934.00 remains intact, target set at 649.20 and 615.60.