Gold appears to have support around $1200 with resistance around $1450, so it looks like (assuming no global political crisis) to trade within this $250 range this year. We can use 2012 as guidance, Gold traded between $1550 and $1800.
Long term, Gold needs to find support around $1300 and trade in the $1200-$1400 for the next 6 months.
Short term Gold looks like it is struggling to close above $1350.
Gold seasonally peaks before the start of May and hits a summer low by the start of July, $1500 in 2011, $1550 in 2012 and $1200 in 2013.
Bull case : $1400 before 30 April.
Bear case : $1250 by 30 June.
Long term, Gold needs to find support around $1300 and trade in the $1200-$1400 for the next 6 months.
Short term Gold looks like it is struggling to close above $1350.
Gold seasonally peaks before the start of May and hits a summer low by the start of July, $1500 in 2011, $1550 in 2012 and $1200 in 2013.
Bull case : $1400 before 30 April.
Bear case : $1250 by 30 June.
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