Neal Bhai Reports ~ Gold is very unlikely to beat 1260 for a long time. If we get anywhere near this level again it is an excellent selling opportunity but needs at least a 10 Point Stop Loss. I would not really feel positive about Gold unless we broke above 1280.
Holding below $ 1240 sees further profit taking to first support at $1227—1226. If we get a bounce from here we could be offered selling opportunities in the 1250/60 area if we are lucky. However a break below 1225 triggers further losses to $ 1217—1212 & perhaps as far as support at $1206—1207. ~ Gold Silver Reports