xau usd weekly outlook for 6 to 10 june 2016

xau usd weekly outlook for 6 to 10 june 2016 Xau usd or gold spot this week saw strong short covering as well as value buying rally and closed at 1244$. After last 4 weeks continues fall prices saw some buying around 1200$ level.   For next week, gold comex outlook is bullish and trading strategy will be buy on dips. On upside 1250 and 1274$ are resistances as well as target zones foe next week. On downside 1230 and 1200$ are strong support zones.   Monthly chart suggesting gold is building long term base around 1200-1280 zone for upside target of 1395 to 1550$.

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Pramod Baviskar

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