Gold falls to lowest since June in test of $1700

Author: Adam Button | Category: News

Precious metals beaten up

Precious metals beaten up
Gold is down $33 to $1705 and silver is down more than 3% as the ugly run continues for gold.

I'm not sure I can name a more-hated financial asset right now than gold. I highlighted yesterday that the bounce looked very much like a dead cat-variety rebound.

I think there's a case for nibbling in the $1670-$1700 range because the fundamental picture is sparkling. But at this point it's catching a falling knife.

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