Gold Market Wire
News, analysis and commentary for gold traders and investors
The Technical Take
Gold Falls as Equities Pressure Market.
March 12, 2020 - (Gold Market Wire) - The equity market falls are finally proving too much for Gold this a.m. Another 8% knocked off of stock markets around the world and the sound of liquidation is in the air. The US closure of travel from EU countries over Corona Virus fears has been too much for equities to withstand and Gold has moved down to its next support level at $1585, where it may pause for a while. Trend line support comes in at $1573.
Not a surprising scenario, given the terminal rout in equities. Let's see if the price gets defended soon.