Gold ekes out a small bounce
The price has managed to bounce from the lows, after further losses yesterday took gold to its lowest level since late July.
It has managed to bounce slightly but, given the strength of the move, it looks like rallies back in the direction of $1264 will continue to bring out the sellers. Below $1246, $1240 comes into play, and then the price risks a swift return to $1214. A close back above $1264 is needed to cancel out the more bearish outlook.