Gold’s rebound from 1562.90 resumes and surges to as high as 1628.82 so far. Current development suggests that corrective pull back from 1689.31 has completed, after drawing support from 55 day EMA, as well as 50% retracement of 1445.59 to 1689.31 at 1567.45. Further rise should be seen to retest 1689.31 high. At this point, we don’t expect a break there. Consolidation form 1689.31 should extend in range for a while.
