Gold heads lower
Yesterday’s swan dive in gold prices marked yet another session where the price failed to break through and hold above $1250. As a result the price looks to be rolling over, with a close below $1243 leading to more downside.
Targets from here are likely to be around $1217 and then $1201, with traders likely to sell into strength. Bulls would need a close above $1255 to suggest that a bigger upward move is in play.