Yellow Metal correcting higher hits $1,255 a troy ounce

  • Gold is correcting higher after four days of decline. Gold broke above 1,254.23 Thursday’s high. 
  • If gold breakout above Thursday’s high is sustained a retest of 1,260 figure can be on the cards. 

Gold 15-minute chart

Spot rate:                   1,254.67

Relative change:        0.53%

High:                          1,255.70
Low:                           1,245.65

Trend:                         Bullish correction

Resistance 1:            1,260.00 figure 
Resistance 2:            1,264.14 Monday’s low
Resistance 3:            1,270 figure

Support 1 :               1,254.23 Thursday’s high
Support 2:                1,250.00 figure
Support 3:                1,245.70 current 2018 low
Support 4:                1,243.92 December 3, 2017 
Support 5:                1,236.52 December 12, 2017 swing low