FX.co ★ Intraday analysis of Gold for September 04, 2014

The metal is bouncing from the lower levels. As we recommended in yesterday's session, buy above $1,269 with the targets at $1,274-$1,275. As of now, the metal has made high at $1,273 in Asia's session. The metal opened strong with support by daily close level. For a positional basis, the metal has resistance at $1,285, $1,290, and $1,293. In case of a daily close above $1,290, bulls will regain strength on intra week basis. If a daily close is above $1,302, the NT term turns to positive; until then, selling on an up move will mint the money. For an hourly trading, the metal has strong resistance at the $1,275.60 and $1,280 levels.