Gold price to bounce from 1258 support

FXStreet (Barcelona) - Independent Analyst Vladimir Mihaylov points out that gold didn't reach his third target from last week at 1288, and market players decided to take their profits which resulted in return back to 1266 support.

Key quotes

“Next support is at 1258-1262, below which the upside recovery will be dead, and downside will be restored again.”

“However I expect the price to bounce from support 1258 and the upside movement to continue next week. ”