Gold is at a three-month low, down $24 to $1268 after breaking the late-April low.
The dollar has caught a bid after a series of solid economic data points and that will continue to weigh on gold. Technical support is virtually nil on a close below $1268.
gold daily
I’m weighing whether to sell gold here or wait for a bounce. I was short last week but covered and decided to wait for a break of the triangle. Hindsight is 20/20 and I missed the first move but there’s plenty of downside before the major support at 1200, it’s just a matter of getting the timing right.
