HXPM Gold Weekly Gold Review 110425: Gold brokethrough big figure resistance, tended to correct at high in short run

Weekly Gold Review: http://www.hx9999.com/en/comment_week_696.html

Last week gold brokethrough the big figure resistanceof 1,500 USD and reached the highest 1,511.97 USD, closing at the upper range 1,507.04 USD.
During the early of the week gold tested the short-term moving average in daily chart and gained support of dip buying. Single way of trend developed and market attitute was aggressive. Gold continued to rise steadily in the following trading sessions.
The greenback fell closed to the all time low under pressure of low interest rate and severe budget deficit. Gold was favoured as a hedging tools.
Silver also performed bullish with the support of short-term moving average in daily chart. Momemtums were sufficient to support the commodity to hit the 47.72 USD record, closing with a long bullish candlestick in the week.
Technically both the metals were on uptrends in medium and long runs. Techinal target of gold should ae 1,546 USD while silver tended to approach the 50 USD psychological level.
According to patterns in the week, trends remained to be bullish in the coming session. However corrections might occur as no overnight adjustment had been seen yet and ranges narrowed.
Lower support of gold and silver should be at 1,480-1,488 USD and 45-44.50 USD respectively. While range should be 1,480-1,530 USD for gold and 45-50 USD for silver.