Gold up $6 today
Gold posted a rough outside bearish reversal yesterday in a fall to $1304 after jumping to $1318 early in the day.
That looked to be a warning sign that the uptrend was over but worries about growth today after soft retail sales and negative trade war headlines breathed life back into gold. It's up $6.50 to $1313 after bouncing from last week's low.
The rebound underscores support in the $1302-$1298 range. It also highlights the lack of movement since the end of January.
Last year gold also peaked in January but then it shopped sideways for the better-part of three months until a second try at the Jan high of $1366 fell just short. From there it was a long slide down to $1160 in August.
