Will gold climb above USD $1250 or plunge below USD $1200

Will gold climb above USD $1250 or plunge below USD $1200? Thats the question being asked after a surprising USD $40 rally overnight, after gold looked in danger of testing support at the key USD $1200 mark. Questionable economic data (some good like ADP employment / some bad, like mortgage applications) in the US, as well as Europe and Oz leaves market no surer of what the Fed would be thinking re a taper, and the beige book was as boring as the colour itself (unless Richie Benaud is wearing it) Non farms will be key Lastly, as i mention in our weekly report, a new petition has been launched to bring home our bullion reserves. Whether you're a bull or a bear it's a good idea for the nation to house it's own bullion. We don't want England holding it, they never returned the Ashes after all! weekly report (VIEW LINK) link to gold petition (VIEW LINK)