Gold Market Update, $1530 – $1560 zone

In this update I am not going to repeat the points made in the last fairly comprehensive update, instead we are going to focus on the importance of the resistance level just above where the price is now, and impact of the killing of the Iranian General and its potential implications for the gold price. On the latest 10-year chart we can see that gold is making a 2nd attack on the key major resistance level in the $1530 – $1560 zone, which is hardly surprising considering what happened last week.