Technical outlook and chart setups:
1. Gold has broken out above the $1,330.00 levels as seen here. The metal could possibly reach $1,356.00 before a meaningful correction could take place. The current rally from the $1,240.00 levels, has confirmed that Gold might have formed a meaningful low at the $1,240.00 levels. So, buying on dips could be the preferable strategy.
2. Support is seen at $1,310.00, followed by $1,260.00, $1,240.00 and lower while resistance is seen at $1,350.00/60.00, followed by $1,388.00 respectively.
3. The structure indicates that Gold is keeping buy on dips from here on.
Trading recommendations:
Remain flat. Look to buy on dips. ($1,280.00/90.00)
Good luck!