Gold declined by $30 today, for now!
Gold bears finaly manage to brake 1277, support for days and gold declined today by $30. It seams that this is not only the profit taking, or? US dollar strenghtnes is all over the market again and precious metals are strongly down. It will be interesting to see, how will this 1255 level react now and where are the gold buyers? Daily MA200 is near 1253 and 1255 is previous resistance from October 21. If that level breaks, lower support and possible target for today’s bears is 1238/40, previous resistance from December 09./10.