Gold lacks upward momentum
The bounce off the 50-day simple moving average ($1217) yesterday helped to steady the situation for gold, but upward momentum is lacking today. As at the end of March, yesterday saw the price unable to move on beyond $1235.
A drop today and tomorrow may find support around $1210, the lows from 28 March and 1 April, and then below this to $1190. A bounce needs to clear $1235, to then target $1245 and $1260.