Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Short-term outlook Gold -Update - July 1st

Recap: "I see gold (currently at $ 927.5) moving sideways in a range between $926 and $930.5. In case of a break of $931 it can up to $935. This should be the maximum in the next -let's say 1-2 days. Good support is at $926. This should limit downside pressure in the short-term."

Outlook: We are now at the $930.5 level. After a short stop here gold should pass this level and head $935. $935 is a quite strong resistance (61.8% fibonacci short-term). The resistance is then $942/943 which is the key resistance. If we pass this resistance I would be very bullish. But I doubt gold can go significantly over $943 today.

Next update at about 5 p.m. Western European time.