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Gold - Lost its Shine?
How bearish is the recent breakout? An interesting move in gold on Tuesday as it broke below $1,280 in what could be a very bearish development for the yellow metal. This has long been a key level of support for gold and some weakness in the dollar this morning isn’t reviving it. That has been the case for some time that a rising dollar has an outsized impact on gold prices compared to when it declines, a key insight into sentiment towards it. With price having finally broken below $1,280, a more significant decline could be on the cards. As yet, we haven’t moved back above $1280 – in fact, it rebounded off ... (full story)