GOLD : Next support 1730 then 1690
September 22, 2011 Leave a comment
Gold surpassed our long term target of US$ 1650 given more than 2 years ago, and we hope it comes back to or even lower than this price. For the VST 1730 looks as if it is within sight, and if it fails to hold here we think it will come right back to 1690-1700 over 24-36 hrs.
A deeper pullback to nearer 1650 is possible, but 1690 is a decent support so we unsure as to its downside potential beyond this mark just yet.