Gold (XAU/USD) is having a solid attempt at recovery but has been rejected at the 1,800 level for the fourth time in two weeks. Tuesday’s move saw the commodity correct back towards its key support at the 23.6% Fibonacci (1,770), where the 20-day simple moving average is now in confluence. Part of this move lower is attributed to US Treasury Secretary Janet Yellen’s comments about the possibility of rising rates in the long-term to avoid an overheating economy. To be honest, there is no new information in what she said, and nothing we didn’t already know, but it seems investors were spooked by the fact it came out of ... (full story)