Near Term Trend: Neutral
Fridays Close: $1,257.80 (+$1.40)
UPDATE: Last week, I suggested buying gold at either 1237.60 or 1217.60 with an upside target of 1321.30.
Gold nearly reached the first of my two downside targets at 1237 this week before starting a new rally leg. Not sure if a test of 1237 will occur, but I still feel 1321 will be tested on the upside.
Buys can be made at 1237.60 with stops honored on a close below 1237. Upside target is 1321.30.