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GOLD @ $ 1172 = Medium Term View

October 14, 2015

GOLD @ $ 1172 – In M/T, Gold is likely to hold $ 1130-35 zones. A clean break of $ 1220-25 would pave way to enter $ 1255-75 zones before exhausting.

However, Preferred strategy would be to book profit, as another $ 150-200 dip will come after hitting the top. Only upside break of $ 1298 would encourage for $ 1350.

There is surely cash shortage as QE, China, Central Bank buying & European unrest was the major cause of gold demand. Neither there is a major threat of Geo-Political unrest. Syria, Ukrainian and Yemen is also supporting factor.

Couple of good US data will start shifting market sentiment and USD will once gain start dancing to the tune of US interest Hike.

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