FX.co ★ Intraday trading recommendations on Gold for September 10, 2014

The metal drifted towards the $1,247 level and sharply bounced from the lower levels. Today, the metal opened neutral at the previous closest level. Buying is unable to breach the $1,257.80 level. We can see a sudden spike once it breaches $1,257.80, it can fly up to the $1,260 and $1,262.50 levels. In the h4 chart, the RSI is indicating a minor positive divergence. We recommend buying only above the red descending trend line in the above chart. The positional resistance existed at $1,280. Until the pair closes above $1,280, selling on every up move will mint the money. On the down side, the targets existed at $1,240, $1,220, $1,210, and $1,185 levels.