Forecast of gold movement today

Gold at the basic level

Gold prices rose today above the levels of 3230 dollars per ounce on Tuesday, as persistent concerns about the US economic outlook and the fiscal deficit continued to support the demand for safe assets.

We are now waiting for speeches from a number of Fed officials later today, which may provide more clarity on the central bank's policy outlook and the health of the US economy.

Gold at the technical level

Gold prices are trading today between a symmetrical triangle, waiting for a break or breakout of one of the two levels.

A break of the 3200 levels down will open the way for further pullbacks towards the 3150 and then 3100 USD / oz levels.

As for breaking through the levels of 3255 dollars per ounce, we expect gold to continue rising to target the levels of 3320 dollars per ounce, which is our most likely scenario.