GOLD extended its decline from our initial target area 1210 to our secondary target area 1190. Despite being in bearish trend I expect gold to bounce to 1225-35 area from 1193 which is 50% retracement of the move from 1120 to 1263. Risk of further decline towards 1175 only if Gold fail to hold above 1190.
Trade closed: target reached:
Finally gold has reached near to the targeted area. For the moment i don't see gold higher than 1235 unless their is serious shift in sentiments...