Spot Gold (XAUUSD) : 1450-1453 within sight
That Gold got to within spare change of 1440 was as forecast, with the week ahead likely to see volatility climb higher yet
• With demonstrations planned for Friday in eastern Saudi, the risk of another week of heightened risk seems almost certain, which could easily see gold spike to 1450 or so.
• For the early part of the week use 1424 as the initial support and breakdown point, with a breach here likely to see 1417-1420 rested. This is in fact a key support for gold this week.
• In terms of resistance, 1432 is the first barrier, and given global jitters, a move from here to 1440 is entirely possible.
• A breakout above 1440 places 1450 to 1453 as the target.