Gold rally met by more selling
Yesterday, gold hit its lowest level since February, testing the area around $1150. A rally overnight back towards $1167 has been met with fresh selling, so it seems gold bugs will still have to wait for the price to form a base.
The next downside targets below $1150 are $1145 and then $1139. A bounce has to clear $1170, then $1180 and then on to $1200.