Gold price were stable last week and it was one of the most boring week for gold traders as it stuck in a small range of 1080$ – 1098$ despite many major data it did not fall or gave any rise last week , So once again we are relying on technical levels for this week rather then trend , So watch levels instead trend , Major trend would confirm if gold price breaks 1109$ and close above this level once market give this close then we are ready to take off the gold price flight upto 1138$ – 1178$ this week
If gold price break support of 1065$ and manage to close below our weekly technical support then bears would have upper hand in market and it could drag upto 1030$ – 1000$ and even below 1000$ not ruled out
Gold prediction conclusion : Despite no major trend gold is giving a lot of headaches to those who trade on short term or intraday so still intraday levels would be very crucial and one need to watch 1104$ – 1109$ range .
More will update in daily gold price forecast update