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Gold slides below support drops to $4,325 but you were warned
Earlier today we warned about the prospect of Gold extending on the downside if it busted below the prior interim low at $4,375. Well, take a look at it now and you can see it has been thumped lower. The metal just now traded below $4,325 and it was a number of catalysts that dented it so hard. First we have the higher oil price and the slide across the US equity futures which forced gold holders to offload and that offload was also clearly driven by yet further gains in US treasury yields. For that matter bonds are getting splattered everywhere right now. So, Gold had no choice but to thro in the towel. It is right now at $4,342.25
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