Gold stuck in range. Levels to watch for direction

5 thg 12

This week has been relatively quiet for gold traders, with the price confined to a narrow range between 2635 and 2655. In fact, aside from a few brief spikes, the price remains largely unchanged from Friday's close.

Looking ahead, this tight range is likely to break in one direction or the other. As mentioned, the key levels to watch are 2655 and 2635; a breakout above or below these levels could provide clearer indications of the next move.

For now, I am staying out of the market, awaiting further clarification, but I maintain a bullish bias.