Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Support Gives Way on Gold as Stock Market Recovery Stalls.
Gold is giving up the ghost late on Friday after a brutal week and a shortly lived stock market recovery today. Support has been passed and the ensuing drop came in a straight live.
The next line for support is around $1500. Gold is weak. It is likely the wrong place to buy and accumulate. We bounced off of $1522 - the market probably has more downside.