Gold prices dropped in the intraday levels, as traders took profits of the metal's past rises and as gold searches for a bottom to bounce off higher again, with the overall guidance of the upward short-term trend along the trend line, combined with an influx of positive signals from relative power indicators like the Stochastic. We also notice the gold approaching the line of the upward trend as shown in the attached chart.

Therefore we expect the precious metal to rise anew, as long as the important support of 1,209.00 holds on, targeting thereafter the pivotal resistance of 1,263.00.

Trend Bullish