We had a great bullish impulse on Thursday after the GOLD price dropped close to the round support level of 4000. At that time, positive news came out regarding the Middle East, which helped the price to show a significant upward momentum. On Friday, we only saw a modest continuation of the uptrend, with the market closing just above 4200 near the resistance at 4266. We are looking forward to the next week, which is expected to be eventful with the FED meeting and the Bank of Japan. The Middle East theme could once again impact the market. Technically, the priority is still towards a decline, but the current news background favors further growth.
