Main Scenario: As long as Gold stays above 1841 the main trend will be still upwards. Then the precious metal may up to 1877 price level
Target Expectation: 1877
Considerations Supporting The Scenario:
Gold prices traded in a tight range on Wednesday as chances that the Federal Reserve may hint at an early tapering of its bond-buying program set a cautious market tone.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1841
Alternative Target Expectation: 1791