Gold Weekly Review
Other than June, gold has been in an uptrend for almost 6 months in a raw. This is a clear bullish gesture, and following the end of the corrective wave (b) around 1212.86, we expect a possible extension of the impulsive wave (c) to the upper side but should not go beyond 1396.94. If this resistance is broken, then this pair could rise further but should not go beyond 1602.47. According to the monthly perspective, bullish are still pretty much in control and as long as the level 1212.86 protects the upside we'e good to remain long. This commodity drags along it silver with it. Any move in gold, attracts a similar move in silver.