Gold - Fundamental analysis for precious metals

  @ibtimes on December 11 2007 9:00 AM

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gold

Gold fluctuated in the same area it was consolidating within yesterday with high momentum which in role might lead gold up today. At the same time, the technical oscillators indicators still give the upside signals in the short and medium term. The trading range for today will be between the key resistance at 817.00 and the key support at 783.00.The general trend is up as far as 715.00 remains intact targets now at 819.00 and 857.00.

Support
804.35
800.65
798.09
794.70
790.45

Resistance
807.02
810.70
814.80
817.25
820.00

Recommendation

We expect buying gold above 805.80 with a target at 818.00, stop loss below 793.75.

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