Gold, trading near a six-week high, may climb toward $1,162 an ounce should prices hold above $1,135, according to technical analysis by Commerzbank AG. 'The fact that last week's correctly anticipated fall only took the gold price to $1,088 before giving way to another leg up shows underlying strength,'Axel Rudolph, a technical strategist in London, said in the report. 'This is why we will become short-term bullish if, and only if, the $1,135.50, 50 percent Fibonacci retracement is overcome.' Gold is trading at $1,139 as of 21:25pm, GMT, with a bullish trend. Gold's Pool-Position is 62% Long, meaning that most Finotec clients are buying the precious metal.

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