RHB stays bullish on gold despite price falling to US$4,373.70
RHB Research has maintained its positive trading bias on COMEX gold even as the metal dropped US$53 to US$4,373.70, with technical indicators pointing to a consolidation phase rather than a reversal. The research house advised traders to keep the long position initiated at US$4,273.30 with a stop-loss at US$4,300, and expects gold to resume its climb towards US$4,500 once buying momentum strengthens.