Gold takes a quick trip lower as US traders return

Author: Adam Button | Category: News

Gold back to Thursday levels

Gold back to Thursday levels

There isn't a headline behind the quick drop in gold prices but it comes as US traders return from a long weekend.

The tone in markets is calm so that may have taken some of the premium out of gold but I suspect this is more about flows. There has been endless chatter about Venezuela selling and that could be the driver.

Technically, it's another failed bounce for gold but there is plenty of support from $1270-$1262 so I don't envision any kind of deeper breakdown.

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