GOLD Expected to stay range bound

Generally with the FED announcing the rate hike brings strong selling pressure in GOLD. Also historically we have seen that GOLD remains down in the month of December but the weakness in the equities market has given support to GOLD recently.

Strong Support is around 1227 -1230 and the resistance remains at 1255 – 1260 zone.

My preference would be to sell on the rise till it stays below this resistance zone.

Leave a Reply