FX.co ★ Daily analysis of gold for March 15, 2017

Overview

Gold price fluctuates near $1,200.00 level, and we are still waiting for the rally higher to breach $1,211.30 level and confirm continuation of the expected bullish trend on the intraday and short-term basis. The first upside target lies at $1,231.13. In general, we will keep our positive expectations for today unless the price breaks the level of $1,195.28 and holds below it. In this case gold will suffer more losses and may decline to $1,197.26 before making any new attempts to rise. The expected trading range for today is between $1,195.28 support and $1,215.00 resistance.