Goldman Sachs technical analysis on gold
Earlier today, Goldman Sachs analysts highlighted $1307 as a key pivot in gold. Their bias was for that level of resistance to hold but instead it broke and gold is up $14 to $1319 in the second consecutive day of large gains.
"Getting through 1,307 would allow for a minimum next level target at 1,330. The broader implications of that break would however support the view that Gold might finally be continuing a trend that stalled in January," they wrote.