Gold Down

Gold lost some $20 on Friday when everyone was hyped about the $1,300 level. This happened when Gold reached $1,284 Friday morning and kept losing gains throughout the whole day when it finally dipped below $1,250 reaching $1,248.

In today's session Gold made a slight correction going to $1,261 and is currently trading at $1,253-$1,255.

In the short-term, i.e. next two weeks, main trend continues to remain bearish with first target $1,242, second target $1,230.

In the long-term, i.e. next two months, main trend is bullish with first target $1,285, second target $1,300.

Chart: XAU/USD H4