Been a bit of a torrid last 24 hours for the Gold bulls with the shiny yellow stuff slipping again from o/n highs in Asia around 1561.50 to a recent low of 1534.50. There’s some tech support at the Sep 26 lows around 1533.20. Below that there’s supposed interest from Asian sovereign names ahead of the psychological 1500 level.
Word on the street is that fund liquidations have been the major catalyst for the recent falls..
Silver’s not enjoying this either, falling to fresh 3 month lows of 26.72 with next major tech support down at 26.10 (Sep 26 lows)
UPDATE: Gold slips down through the 1533 support to 1524.70 in last few mins.
