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Gold sell-off looks set to continue
Gold is moving lower once more this morning, in an extension of the weakness we have seen in play since the pair hit long-term trendline resistance.
Despite the short-term bounce yesterday, we are seeing gold move lower once more, with the $1267 level marking the nearest notable support level. Below that, we have the key $1264 level to watch out for. With that in mind, while further downside looks likely, it is certainly worth noting that the $1264-$1267 support zone represents a significant hurdle to overcome.
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