Gold prices were bearish in the start of last week however bounced again to form a hammer. This is the fourth hammer in a row and hammers in a row don’t happen very often. we think that Gold price getting a bit of buying pressure
Though the link on the website has removed but the news still exits that China is running out of cash. One of the bank representative said that it is a system maintenance and domestic transfers delayed through February 2 and foreign currency transfers delayed until February 7. It is a common trend that the bank do system maintenance during holidays throughout the world.
Gold Price can move higher to 1294-1301 is in play but we expect a pull back from here.Please click here for more