Gold pulls back to key $1200 mark
Gold has tumbled back into the crucial $1200 mark yesterday, following a period of strength throughout 2017 so far. A break below that level could spark a period of weakness should it occur, with $1188 the next crucially important support level.
On one hand, with price holding up around the $1200 mark, there is a good chance we could see a push higher once more to continue the recent bullish trend. On the other, we have seen a trendline break, with questions clearly being asked of this rally. A convincing break below $1200 could be the sign that we are set for a period of weakness.