Tuesday, June 12, 2012

Gold ~ Update ~ 12 June 2012

We didn't get a close above 1630 last week so I remain neutral on gold:

As you can see in the chart, the situation for gold is similar to the one for silver. Support is at 1550ish and resistance at 1630. The medium-term trend is bearish again if 1550 is breached and bullish if 1630 is broken.