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Gold slides below $2,675 and tests technical support
An update here earlier today noted how Gold had managed to find support ahead of $2,675 yesterday afternoon. The rebound back above $2,690 from there earlier today has now given way to fresh selling and the metal has now dipped below the lows seen yesterday and below $2,675 per ounce. The reader is again reminded of the 50 day moving average, which is in place right now at $2,670.75. The price action has just come very close to that a moment ago and so it remains to be seen, if it will cap this move lower, or not. The low seen a moment ago was set at $2,671.14. Gold is currently trading at $2,675.25
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