Technical Analysis

Not a good day for gold. Down -1.5% on the day/Below $1200 for the first time since March 2017.

Falls to the lowest level since January 2017

It was not the best of days for the precious metal. Gold is currently treating down $-18.24 or -1.51% at $1193.54.

The price is trading the $1200 level for the first time since March 2017 and fell to the lowest level since end of January 2017.  The low for the day reached $1191.80.  

The next downside target is the January 2017 low price at $1180.66.  

The price of gold has been ignoring the uncertainty and risk in the global market from Turkey, Argentina, Russia, trade wars, China, No. Korea, etc, and is trading more on the rise in the USD (see post from Friday)


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