Monday, January 4, 2016

Gold prices face strong resistance at $1080

Gold is weaker, and where $1,055-$1,065 has proven to be strong support in US dollar terms, $1,075-$1,080 is proving equally formidable resistance.

We are certain that gold is forging long term support that can and should hold, but until such time as the resistance noted here is taken out handily to the upside we will sit tight with what we already own and do nothing more.