U.S Federal Reserve hinting another possible interest rate hike in December has changed our time target for Gold. Earlier we were expecting the yellow metal to halt the uptrend in last week of September, instead, we are now looking for that High to come in late by almost two weeks. The current drop should terminate here and Gold should resume the uptrend. Going back to the Gold chart, the price hit 1357.50, just $2.50 shy of our lower-end target of $1360. We still have the same target level of $1360 to $1380.
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Gold broke this low now, the high that we were expecting 2nd week of October will be lower high instead of higher high