Gold Weekly Review and Outlook for Week Ahead


Spot Gold has had a spectacular week after a failed attempt at 1974 last week pushed prices to 1879 testing nerves of Gold buyers.
The week opened with a massive run away gap as prices opened at 1921 which was $32 above the previous closing of 1889 leading to choppy trades and Gold filled the gap eventually, and resumed bullish momentum.

4 Hour chart shows Breakout above the symmetrical triangle formation that targets 2034 soon after 2000 is cleared.

Stochastics and RSI are supportive of the ongoing upside.
Meanwhile, any short term correction below 1968 will start sideways minor correction towards 1950-1935-1925
Since the main trend is up, buyers are likely to join around the value areas and volume supported buying can restart the bullish momentum which targets 2000-2034