BofA Merrill Lynch:
We have tempered our enthusiasm on the yellow metal. The range trade from last November looks increasingly like a potential Triangle, which would limit the potential upside.
In the near term, gain should be limited to the May-18 high at 1231, while the confluence of retracement support at 1177/1172 should limit the downside


Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 



