The precious metal is moving higher today as we are seeing traders closing their bearish bets and positioning themselves for the US government shutdown. While the US politician continue to battle for their grounds on debt ceiling, the volatility for the precious is increasing. If the situation continues like this, we could very well see a government shutdown in the US which could be reflected in higher gold prices.
Focus: The precious metal needs to stay above the $1300 psychological level to confirm the uptrend. A break below the 1291 support area could open the floor toward the next target of $1249.Read More