Gold falls below yesterday’s lows

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Gold is now lower today after the $20 decline yesterday.

There are reports of hedge fund liquidation. Apple is another hedge fund favorite and it’s also down today.

The US dollar is broadly (albeit slightly) stronger after the ISM data.

There isn’t much to like in the gold chart at the moment.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2012-12-05T15:12:46+0000

All|Americas|Market Rumors|Regions

Gold

Adam Button

7 Comments

  1. Having broken 1690, is 1670 a given now for Gold?

  2. Not sure what MA’s are on your chart, but its only got the 200MA (close by) to save it on mine, then clear water below.
    Not sure why but when went to comment had to log out “HMR” to be able to!

  3. what happend with the George Soros buying GOLD?

  4. Adam check out DJ FX Horizons story about “fracking” and the US as the leading oil and gas prodcure. The best part of the article is about the flip in “Made in China” bought in the US idea. Can you image it . . something actually made (well dug up) in the US and sold in China?

  5. The single currency is relentlessly climbing up and forcing the liquidation of speculative positions across the board: this has caused the sharp drops in commodities while the Euro was rallying yesterday. And today we see again a drop in commodities because the bears know well: the Euro tend to rally in the night and will surprise them with a new level taken by the next morning. EUR/USD drops are limited to 30-40 pips and there are no more presents for the bears in this market: the bear hunting season has started – go and get them :)

  6. I saw that one. It’s good.

  7. That is one pregnant chart ,,,

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