2. The major rally in the Yuan currency on Tuesday (July 2) has been met through lack of strength in the US Dollar . This, in turn, has launched a boost in the Gold and Silver metal markets during the early trading and may even mark a summer bottom level for the Gold market.
3. Price action has confirmed the value of the mid-term bullishness sentiment bouncing off Key Support $1242 established on Dec 11, 2017.
4. The latest price action has created a new intermediate-term, Mean Resistance $1261 and Key Support of $1241 and upside disruption will undoubtedly bring mild short-term implications, having upside target to Key Resistance of $1270.
5. Current Gold Strategy Bias: Bullish 60 / 40