Gold’s failed attempt to break through near-term resistance at $1,208 was an “ominous warning” for investors, say analysts at Triland Metals. They add that the next price level to keep an eye on will be April’s earlier low at $1,183 an ounce. “This is the key pivot point for the medium term direction of this market,” they said. Despite the bearish momentum, the analysts are expecting prices to remain range bound between support at $1,175 and resistance at $1,225.
