Gold uptrend intact
Tuesday saw the price of gold clamber higher, with more follow-through today. While the drop from Friday into Monday was dramatic, it created a higher low.
Therefore, this supports the idea that we will see a continuation of the trend higher from $1264 at the end of October. The new upside targets remain $1295 and then $1307, while a close below $1275 is needed to create a new lower low, and suggest that the bounce has run its course.