- Mitsubishi (based on Bullion Vault)
One more trading session was spent without any or lead. The bullion hovered in a quite wide range, but ended the US session just below the weekly at 1,086. Next three days will be driven by important fundamentals from US and other regions. In particular, US CPI data should drive gold on Wednesday. A positive surprise is likely to trigger losses for the yellow metal down to monthly R1/20-day at 1,084. In the meantime, traders are feeling confident in targeting the last year's September low at 1,098, which guards a major psychological level of 1,100.
Yesterday more SWFX traders took the long stance with respect to the metal, by pushing the portion up by one percentage point from 55% to 56%.