We turn cautious for the near term outlook as support has been breached. However, we will now be looking for the renewed supported buy signals and the next opportunity for medium term long positions. Fundamentals/Newsflow Gold has turned lower this morning. This could either be a simple bout of profit taking on near term longs, and/or the first signs towards a return towards gold acting more of a safe haven once more. We believe that it could be something of both. As equities have rallied again, gold is lower. This is a move away from the recent positive correlation (with US equity futures). The usual negative ... (full story)