As expected we have rebounded to the 1214 area.
Now trading sideways with an up slant. Waiting for Yellen to testify to congress as well as FED bank panel, job claims, housing, and retail sales data. I am expecting a $15-$20 drop from current position .As projected data is expect to show a small, but positive improvement . A break of 1200, would lead to a greater drop to possibly to 1250-1280.
Short of bad data or I do not see a reason for gold to go up.
Now trading sideways with an up slant. Waiting for Yellen to testify to congress as well as FED bank panel, job claims, housing, and retail sales data. I am expecting a $15-$20 drop from current position .As projected data is expect to show a small, but positive improvement . A break of 1200, would lead to a greater drop to possibly to 1250-1280.
Short of bad data or I do not see a reason for gold to go up.