Gold clocked a high of $1371 levels in Asia and continue to trade near $1370/Oz levels, which is few points short of $1378 (point C of Cypher). The 38.2% Fibo retracement of the move from 2011 high - 2015 low stands at $1380.
Failure to take out $1378 - 1380 could trigger profit taking. A break higher on day end closing basis would open doors for a sustained move above $1400/Oz.
Failure to take out $1378 - 1380 could trigger profit taking. A break higher on day end closing basis would open doors for a sustained move above $1400/Oz.
