GOLD: Bounces Off Lower Prices, Trades Above Key Support

GOLD: Our outlook remains higher as long as GOLD holds above its key supports at the 1,077/1,069 zone, it faces further recovery threats. Support comes in at the 1,080.00 level where a break will aim at the 1,069.00 level. A cut through here will open the door for move lower towards the 1,040.00 level. Below here if seen could trigger further downside pressure towards the 1,000.00 level. On the upside, resistance resides at the 1,210.08 level where a break will aim at the 1,225.000 followed by the 1,250.00 level. A violation of here will turn attention to the 1,270.00 level followed by the 1,180.00 level.. All in all, GOLD remains biased to the downside medium term but faces corrective recovery threats.