Gold Aug 16

This week, the most active precious metal gold is currently up to $7.20 and trading around $1511 per troy ounce after placing high around 1,528. This is a new record close for this calendar year. Although gold futures had traded to an intraday high of $1545 on Monday of this week, the effective close came in at $1514.

Consider staying bullish above 1,512 and bearish below 1,527 today as the market is now likely to trade within this range. Choppy trading is appreciated during the New York session. All the best!