FX.co ★ Daily analysis of Gold for May 08, 2017

Overview

Gold price has not shown any strong move since morning. The metal is still fluctuating around 1,229.00. Thus, we do not expect any change in the bearish scenario that depends on holding below 1,244.00 and 1,250.00 levels. We are waiting for the target of 1,208.92 as the next main station. Please note that breaking the targeted level will extend gold price losses to reach 1,188.50 directly. The expected trading range for today is between 1,215.00 support and 1,240.00 resistance.