Trading for gold will mostly be between the 38.2% fibonacci retracement and 61.8% level which was initiated on June 12 signaling that the potential to the upside remains. As the metal continues to trade above 876.66, it is gathering enough strength and momentum to test the 900 per ounce level and build a solid base above it.

The trading range for today is between the key support at 876.66 and the key resistance at 905.45.

The general trend is to the upside as far as 730.00 remains intact; targets at 960.30 and 1016.00.

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