Still looking for $1360 before any major reversal.
$1318.40 last.
From Reuters:
* Gold breaks above key technical resistance
* Dollar softens, further underpinning prices
* Gains expected to be fragile as end to QE looms (Updates throughout, changes dateline, pvs SINGAPORE)
By Jan Harvey
LONDON, July 22 (Reuters) - Gold hit its highest in a month on Monday as a retreat in the dollar pushed prices through tough resistance at $1,300 an ounce and as fears abated that the U.S. Federal Reserve will soon curb monetary easing.
Buying gathered momentum after prices beat chart resistance at $1,300 an ounce, a level they repeatedly tried and failed to break in the last month. That took gold as high as $1,322.50, a level last reached on June 20.
Spot gold was up 1.5 percent at $1,314.99 an ounce at 0913 GMT, while U.S. gold futures for August delivery were up $22.10 an ounce at $1,315.00...MORE
