xau usd daily forecast for 28 aug 2013



xau usd daily forecast

xau/usd or gold spot trading at 1420$with gains for today.on daily chart after bullish breakout near 1325 ,gold prices rallied to previous tops.

on daily chart trend and momentum strong bullish and traders above $1360 keep buy on dips trading and investment strategy.above 1420 expect 1480 as next stop for this bullish rally.

on intraday chart,$1410 and 1360 are support.while 1440 will be next intraday target.

on weekly chart,xau/usd or gold spot trading with gains for this week.this was 4th week of gains with value buying and sharp short covering.from $1270 to now $1420 total $150 dollar or 12% gains seen in very short time.on weekly chart trend is down but momentum is recovery side and if fundamental support in upcoming time then expect 1800-1900$ levels in next 6-8 month time frame.

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