Gold clings to October 30 low for the time being

In the previous update on BTC we noted how gold has taken yet another hit today, endorsing all that we said earlier. The metal came very close to busting back below the October 30 low, which was set at $3,870.26. We remind readers that was the low of the year to date too. 

The low seen a short while ago was set at $3,883.18, but it has since rebounded back above the $3,900 handle. The high on that rebound was set at $3,909.30, but it does not look like it is safe from another attack on the downside and a break below $3,870 could so easily extend. We shall have to see on that. Gold is right now trading at $3,901.75