| Even though the price of gold failed to make a decisive break above the 200 day Moving average, the price looks set to continue its upward trajectory. However, one can expect some resistance close to the 200 day MA at around the $1185 an ounce level.
After briefly breaching $1190 an ounce level, gold prices came under some renewed selling pressure as the U.S dollar gained against it major peers especially the euro. The rally in the greenback was sparked when European Central Bank (ECB) president Mario Draghi announced that the central bank would not cut rates, but at the same time, he strongly hinted that they would act later this year...............................................Full Article: Source
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