Gold heads lower
There has been little respite for gold bulls over the past couple of days, with a bounce yesterday simply bringing out fresh sellers.
All eyes are now on the $1257 area, where prices bounced in mid-June, and around the current 200-day simple moving average.
A break below here would head towards $1200 itself. Short-term, a rally would need to clear $1277, and then push on back to $1300.