The short-term outlook is bullish; the yellow metal can breach the $1,300 level

The struggle to break the resistance at $1,280 per ounce came to an end last week. After hovering around this hurdle for three continuous weeks, the global spot gold rose sharply breaching $1,280 last week.Though the yellow metal oscillated around $1,280 for most part of the week, it gained momentum on the final trading day and surged to a high of $1,297 before closing the week at $1,292.42 per o...