Gold continues to descend
Gold has been turning lower since hitting the $1180 region on Thursday, with the wedge break crucially failing to push through the $1181 region.
Subsequently we have seen price moving lower in a very considered and steady manner. With price passing through $1157, the downtrend in play over the past month remains intact, with further losses expected.
We would need to see an hourly close above $1181 to negate the current downtrend and until then, rallies will be seen as opportunities to get short once more.