Gold hits bottom end of recent range
Gold held the 200-day simple moving average (SMA), but has yet to really show that it has broken higher.
For that, a move above $1325 is needed. Below the 200-day SMA at $1305, the $1295 level comes into view. The current trading range that has held since mid-January may now make itself felt, prompting a surge of bullish momentum around $1308.