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Gold dips below lows seen yesterday
As highlighted here earlier today, the technically weak close last night in Gold could see the metal fall below the low point seen yesterday, at $2,881.79. Well, it has done just that a short while ago, endorsing the negative close below $2,900 posted last night. The low seen so far has just ben set at $2,879.53. That suggests there may have been stops in place below $2,881.79. The metal has just bounced from that low and it remains to be seen, if there will be a deeper decline now, or that low will not be further extended. Perhaps it might have to see, whether or not US yields will rise further after the US CPI data, before such a move might play out? Gold is currently trading at $2,884.15
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