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Following on from an earlier update, noting the recent lows in Gold just above $2,924. Well, the metal has just this minute taken another hit to the downside and fallen below $2,924. This was always a likely downside pressure point and that is why it was highlighted here earlier. Well, as you can see right now, the metal has accelerated to the downside upon breaking below that level. Gold just hit a fresh session low at $2,916.90. It is currently trading at $2,920.60
The US stock markets have just reopened and it has been an across the board lower start to the session. The Nasdaq 100 has just kicked off at 19,657...
Since the last update here on Gold, the metal has now tested and taken out the noted trend line resistance level, in place around $3,029 per ounce...
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