GOLD IN DANGER ZONE : 1280 – 1289 SL 1268

GOLD IN DANGER ZONE : 1280 – 1289 SL 1268

The price of gold ( XAU/USD ) failed to build on Thursday’s gains on Friday with the yellow metal experiencing a consolidative pattern. TheXAU/USD ( gold ) rebounded on Thursday to hit a weekly high of $1,288 after bottoming at $1,268 early in the week.

The price of gold has traded within a range of $1,268 and $1,303 since mid-April. This consolidative movement appears set to continue through next week as the market prepares for key economic reports from the US market at the start of June.

Gold Weekly Price Analysis
SELL 1288 BUY 1280

UNLIMITED BUY WITH SL 1268 TG 1303
1-1303
2-1288
3-1280

UNLIMITED SELL IF BREAK 1268
1-1262
2-1255
3-1244

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