Back to Blog

Gold: The bulls are targeting 1300 & 1350

The precious metal had a strong session on Wednesday after Bernanke comments, with the bulls pushing the market back above 1280. The market is indecisive this morning and as the price cleared resistance at 1247, it looks set to continue its grind higher. The key level to watch for bullish confirmation sits at 1300. The upside penetration of that area could bring us straight up to 1350. Above that area, we expect to see a lot of noise before the market decides its direction again. As longs as we remain above 1247, there is no reason for the bulls to worry. A consistent break below that level, would change the outlook back to negative.

Dafni Serdari
Market Analyst
The comment in this blog is the personal opinion of the contributors and not The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

Share this post

Back to Blog

Spread betting and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading these products with this provider.
You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.