GOLD: The commodity has halted its weakness rallying strongly on Wednesday and following through higher in Thursday’s trading session. If it follows through higher, we could see GOLD recapture the 1,399.79 level. A cut through here will open the door for a run at the 1,433 level. Further out, resistance resides at the 1,450.00 level, its psycho level with a breach targeting the 1,500.00 level, its psycho level. Conversely, support stands at the 1,291.12 level with a violation aiming at the 1,250.00 level. A turn below here will turn attention to the 1,215.00 level and next the 1,180.00 level. All in all, GOLD remains biased to the upside medium term.
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