Technically, Gold (CMP: 1179) has good positional support of around 1170 zone & only sustain below that, it could fall to 1142. Consecutive closing below 1142, it may further fall to 1130-1123 zone in the near term.
On the upside, sustain above 1173 zone, Gold may target 1184-1197-1210 area immediately & sustain above that 1224 may be the short term target. In the mid term, consecutive closing above 1224, Gold may scale 1240-1245 area.
Over all, Gold may be range bound going ahead. At this moment, rally in US & other stock markets & possible immediate solution of Greece are some of the laggards for Gold. But, Fed will be in no hurry (at least late 2015) to be on hawkish side and along with this, never ending QE/stimulus by different economics to devalue its currency may keep the appeal of the physical assets, such as Gold intact. Demands form different Central Bankers & "Love Affairs" of Gold with people from South Asian Countries (specially, India/China) will keep its demand & value and "Safe Heaven" appeal intact.
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