Gold pushing up strongly
Gold recovered in spectacular form yesterday, recovering most of the losses of the past week, and pushing back above the vital $1220 level.
While it has pulled back from its overnight highs, it looks as if the momentum will carry the price high, with a potential first target at $1254. Above this $1260 and then $1271 come into play. Buyers came in to defend the $1195/$1200 area, so the bears would need to get the price back below here to signal a turn lower.