Gold Up

Gold met support on Friday and since then the precious metal has been having a move up. It touched support at $1,306 and although slowly, it managed to stay above the support line and bounce off to a current price of $1,315, which is close to the highest price of $1,317 since the move started. 

It is still very uncertain whether Gold will be able to sustain the momentum as we have been trading in the range of $1,310 and $1,350 for the last three months or so. However, if the support level is strong enough and bulls give it a good boost, Gold's price could very likely climb to $1,400 considering the FED doesn't make a move this month or the next. 

Whether the FED will raise rates or not will be announced on Wednesday this week.

Chart: XAU/USD D1