Swiss banking giant Credit Suisse under deep trouble. Its five-year credit default swaps (CDS) rose by 6 basis points to close to 248 bpbs, the highest level since 2008 (Lehman brothers moment). It has increased the demand for safe-haven assets like Gold.
It is good to buy on dips around $1660-61 with SL around $1640 for TP of $1700/$1740.