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Gold reaches new height of 1,330 on Friday

© Dukascopy Bank SA
"While European equity prices have suffered the effects of investors' uncertainty over the future of the EU, gold prices and other financial safe havens have benefited – and should continue – to benefit from it."
-Clif Droke (based on investing.com) 


Pair's Outlook 
The yellow metal continued to surge on Thursday after booking gains on Wednesday. At the moment, on Friday the bullion already scored more than the previous day, as the metal has surged from 1,321.90 to 1,330.00 by 5:30 GMT. On its way northward, gold is not facing any resistance up to the level of 1,365.71, where the weekly R1 is located at. However, the metal might struggle with the upper Bollinger band, which is now at 1,342.33. 

Traders' Sentiment 
SWFX traders have not changed their positions regarding gold for the third consecutive trading session, as 53% of open positions are still bearish. However, long pending orders in the 100-pip range have decreased from 70% to 66%.
© Dukascopy Bank SA


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