Gold Uplifted

Gold is trading heavily to the upside in today's early hours. Today's high of $1,220 is the highest for the year and investors are worried that they have missed their chance to jump on the Gold bandwagon.

As we can see on the daily chart, prices have already broken the declining trading range and are way above the descending channel.

Although it may be too late, there will be other opportunities as we are now expecting the correction movement which might come at the first resistance level of $1,233.

Chart: XAU/USD D1