10/10/2017

Gold Dec 17

Yesterday close: 1285 +10.1

Gold rose on yesterday trading and erased previous week's fall,  due to geopolitical tensions on North Korea and chaos on Spain. According to CNBC “the return of Chinese buyers also supported the market.”

Based on Fibo analysis, gold price had sustained above 23.6% level and the next Fibonacci 61.8% level will be see at around 1301. Hourly chart show gold price making higher high & low, break previous high of 1288 show a buy signal.

Price Level to monitor today:

Resistance :1293.20 1301,

Support :1284.50 1281.70

Recommend Trading Plan for the day:

1. Buy higher high at 1288.10 with stop at 1281.60

COMEX Gold Margin Requirement

100 Ounces Gold : USD 5390

E-Micro Gold : USD 539

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