Gold steady and further gains expected.
The gold price is range bound today, struggling to rack up its 6th straight day of gains as geo political events keep a floor under the price.
At 3.15pm (GMT) the gold price was trading at $1.236, slightly down from $1.239 in yesterday’s trading.
There is also the uncertainty at the moment in Europe, of what will become of the European union, with the arrival of presidential and parliamentary elections in a number of countries over the next few months.
"Gold prices will be a little bit rangebound with some upside bias for the next few weeks or so," said OCBC analyst Barnabas Gan."
"The risk factors have not really changed so far we're talking about Donald Trump, we're talking about the political situation in Europe and because of all these factors, we do expect market watchers to stay cautious into the months ahead to gauge how the global economy is going to perform."
“We think the low $1250s are going to provide formidable resistance to gold prices.” He added.