Gold remains in a bullish trend. There is still no sign of reversal but bulls should continue raising their protective stops as a pullback towards $1,250 is justified. Gold has reached our short-term targets.

Blue line -long-term support

Gold weekly chart shows us how important the $1,290-$1,300 resistance area is. Price is once again breaking above the weekly cloud and this is a bullish sign. Combined with a break above the black trend line resistance, we will have a very bullish combination. Although I remain longer-term bullish on Gold, I would prefer to buy Gold on a pullback towards $1,260-50.