GOLD: GOLD may have closed lower and remains vulnerable but while it trades above the 1,169/62 support zone, a move higher cannot be ruled out. Support comes in at the 1,170.00 level where a break will aim at the 1,160.00 level. A cut through here will open the door for move lower towards the 1,140.00 level. Below here if seen could trigger further downside pressure towards the 1,120.00 level. Conversely, resistance resides at the 1,190.00 level where a break will aim at the 1,200.00 followed by the 1,210.00 level. A violation of here will turn attention to the 1,224.00 level followed by the 1,250.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, All in all, GOLD continues to face corrective pullback threats.
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