Gold prices tested 1143$ and then came back beautifully from its highest point of the week and closed almost near lowest point of the week at 1120$ friday gold confused by two data one was bad US non farm payroll data and second was good unemployment numbers just like dowjones gold prefered negative data and cracked till 1117$ , now this week once gold click our weekly gold support at 1098$ and close below this level then expect bears to have upper hand upto 1070$ – 1055$ this week
If gold price click our weekly resistance of 1166$ and close above our major resistance then expect buyers to return and gold prices may fire upto 1199$ – 1231$ and even more
Gold weekly forecast conclusion : Gold trend is weak for this week , but last week china were close for 2 trading days so major effect of last 2 days of trading would effect on monday and one need to see monday’s opening to judge the major trend so wait for monday update
More will update in daily gold forecast update