As you see in my following chart, the price of the gold traded between a high of 1260 and a low of 1233, closed at 1251. Today the metal trades above the support level of 1242.
Upside Scenario: If the support level of 1242 holds, a rise to the levels of 1266, then 1277 could be seen.
Downside Scenario: Breaking below the support level of 1242 could push the metal down into the levels of 1231, then 1220.
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