Gold’s pullback could bring further upside
Gold has been trading higher in a consistent manner this week, coming off the back of Friday’s break through the key $1229 resistance level.
Given the bullish short-term view, this current retracement looks like a possible buying opportunity. The preferred area for longs comes at $1234-1235 given the risk-to-reward implications. A break back below $1233 would negate this bullish short-term outlook.