Bullish short-term outlook for gold

 

The short-term outlook for gold remains bullish with a rebound from the recent bearish leg targeting 1361 and then possibly 1434, says Maxime Veimont at  BNP Paribas. However, the long-term outlook remains bearish for the rest of the year after the breaking of the long-term bullish trendline last year. The target stands at around 730, the 2006 top.