Gold price broke our weekly support of 1138$ as stated in our last week’s gold forecast and closed below our condition to resume more selling in gold so this upcoming week gold price should command by sellers and buyers should feel the heat , however on intraday basis gold need to click 1128$ to resume fresh selling further upto 1108$ – 1080$ but last week condition is fulfill so we will advice to stay away from major buying in gold this week unless ofcourse our intra day or weekly buy condition does not fill .
This week gold has a major support at 1090$ if gold price click this major support and close below this major base level then expect a major tension for gold buyers and in panic gold rate may test upto 1060 – 1030$ and even more so stay cautious on every note if you are on buy side
If gold price click our weekly gold resistance at 1181$ and close above this major gold hurdle then expect a breather for gold buyers upto 1208$ and then some more relief for bulls upto 1240$
Gold weekly forecast conclusion : No rocket science this week on gold as its looking weak so avoid major buy
More will update in our gold intraday reports