Though The US recovery narrative continues to be supported by the overall market sentiment, the fundamentals of Gold
in supply and demand
terms still suggest that gold
ought to go higher. Currently, gold
is in a bit of a bounce back mode from the $1200 support area
. The technical ABC formation, coupled with the possibility that the Fed may fail to hike rates in early 2015, may suggest a possible reversal in the price of gold
to the upside.