Down -$2.00 ore -0.20%.

The price of spot gold has moved back negative and trades at around $1246. The high extended to $1253.48.

Looking at the daily chart, the price ticked closer to the key 200 day MA at the 1259.41 level today. That price level will be eyed on the topside should there be a further upside push (likely on a "No" vote). A break above will target the 61.8% retracement at 1278.13 level.

On the downside, the hourly chart has the 100 hour MA at the $1239.65 to get to and through. A move below takes some of the bullish steam out of the markets rise and we should see a further move lower toward the 1231 retracement level and then the 200 hour MA at $1226.31 and moving higher.

The price has been moving higher over the last few weeks on risk concerns from stocks, from Paris election concerns, healthcare reform, dollar declines, bond yields moving lower and overall confidence in the Presidents plan. Now with the healthcare bill on the horizon, stocks, confidence, bond yields and the dollar will all be watching ALONG with gold traders. The technical levels are in place. Now we need the reaction from the news. Watch the key levels.