Gold support is at $1,286 and $1,281. Resistance is at $1,296 and $1,301.

As anticipated, gold has met resistance on its approach to our target of $1,300, with gold unable to move past the $1,296 level as physical selling weighed down on prices. Gold has remained fairly steady, trading around yesterday’s closing levels in spite of a stronger dollar. The market is perhaps holding fire ahead of US trade and this afternoon’s US data, with poor suite of figures
perhaps seeing the dollar weaken further and providing the momentum to see gold push past $1,296 and bring $1,300 within reach.

Gold support is at $1,286 and $1,281. Resistance is at $1,296 and $1,301.