2/3 Gold climbs for the first time in 6 sessions
Gold climbed for the first time in six sessions in London as the financial markets continue to tumble on speculation that economies are worsening now trading at $950. This all add to the metals current appeal as a store of value.
Big caution is advised in the near term. Look for trading range between $928 and $970. Break below $928 could set back to important support at $892. For the upside resistance is seen at $980 with a further break above $1,000 would set a positive trend up to the high of 2008 at $1034.
Support: $928 $892
Resistance: $980 $1005