Gold "has room for at least one more rally"
Goldman Sachs technical analysts suggest adding topside exposure to gold if prices fall into the $1402-$1407 range (spot $1412) for a minimum target of $1465 with the scope for a rise to $1513 and risking no lower than $1386.
"It's now evident that the market is forming something of a triangle consolidation which is typical in 4th waves. Triangles tend to have five swings in either direction before eventually breaking out in continuation of the previous trend," analysts write.
