Gold to finish the month virtually flat
If you bought gold at the start of March you got a big rally to start the month, then a massive plunge followed by a bounce back. Today it fell's down $34 to $1588 which puts it almost precisely at the month-opening level.
What I want to highlight is the monthly chart, which is a huge doji star in a sign of massive uncertainty and the potential for a major move in either direction.
One worrisome headline yesterday came from Russia, which said it will suspending domestic gold buying.
According to data from the World Gold Council, the Russian central bank bought 158.1 tons last year and have been a steady buyer for three years. The WGC data shows that the central bank bought 8.1 tons of gold in January.
