I’m not sure of the catalyst but gold has come under intense pressure over the last 45 minutes. It broke modest intraday support around the $1120 level after reaching session highs of $1127 just moments before..Stronger support at $1110 has given way as well. 1088 is the next decent area of support.We trade now at $1108 after bottoming at $1104.
UPDATE: We’re hearing speculation from AUD/USD traders that there has been central bank selling in gold in the last hour…
