Gold Trading Futures Steady After Midweek Drop

After a drop on Wednesday, Thursday saw gold futures return to being steady in Europe.
Gold futures due in December were trading at $1,297.3 per troy ounce in New York on Thursday morning, up 0.03%. Prices were ranging from $1,292.9 to $1,298.6 per troy ounce. On Wednesday the contract had dropped 0.28% and it was down about 0.6% for the week.

Gold futures returned to being steady after a midweek drop on Wednesday and the contract dropped about 0.6% for the week.
Analysis suggests that if gold December futures manage to breach the first resistance level at $1,303.7 then the contract will probably continue up to test $1,310.4.
If the secondary resistance is broken then the price of gold will probably continue to advance to $1,315.7.
If the contract manages to breach the first key support at $1,291.7 it will probably keep sliding and test $1,286.4. When the second key support is broken then the trend will probably continue to the downside and may reach $1,279.7.