Daily analysis of Gold for January 12, 2016

Overview

Gold price traded firmly higher yesterday. Now the metal is expected to go on its climb from $1,200.00 to keep the bullish scenario valid on the intraday and short-term basis. The way is open to test $1,211.30 that represents the next main target. We remind you that breaching the targeted level will extend gold price gains to reach $1,249.94 on the short-term basis. The bullish trend will remain active unless breaking $1,172.68 followed by $1,168.00 levels and holding below them. The expected trading range for today is between $1,189.00 support and $1,211.31 resistance.

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