{video} Gold further retraced its prior advance today, dropping to a new retracement low, and falling below the uptrend line before finding intraday support. Support was seen at 2,017, right around a weekly low and the 61.8% Fibonacci retracement. An intraday bounce followed with gold on track to close above the prior retracement low of 2,024. However, it is also set to close weak relative to the uptrend line as it remains below the line at the time of this writing. {chart} Support at 50-Day MA is Key Either today’s decline tested support of the 50-Day MA (orange) or another drop is due to catch it more clearly. The ... (full story)