Gold

Gold has cleared resistance at 1274/75 which was not unexpected & now above1279 targets 1282 & perhaps as far as 1285/86 today for a selling opportunity. Very unlikely we make it any higher at this stage & a high for the week is even possible here. However a sustained break above 1288 keeps the market outlook very positive & should then target 1294/96. Immediate support is 1279/78 then 1275/74 which could hold the downside today. However longs need stops below 1271. Go with a break lower to target support at 1267/66. Any further weakness offers a buying opportunity at 1262/61.