| Comex gold futures were lower on Thursday as traders awaited the minutes of the last Federal Reserve meeting. Also, Chinese investors sold the precious metals to take profits on return from a week-long holiday. Comex gold futures pulled back higher from the lows once again, but are not finding enough momentum to continue pushing higher.
Prices are finding strong resistance near $1,150-55 per ounce presently and are unable to take out this important resistance, where it has failed in the recent past too. As cautioned in the previous update, a last line of support lies at $1,107-08 from where prices could stage another modest rally higher. But, now below $1,130 the bearish momentum could build up once again threatening to dent the bullish picture. Strong support is seen at $1,120-25 range in the coming week...............................................Full Article: Source
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