Gold is under some minor pressure and has broken the early US low of $1326. The new low so far is $1325.44/oz.
It has been a tough week fro the gold bulls with prices down $65 since Friday’s close. Below this, gold has some minor support at $1316 followed by the $1300 and then $1273.
At the moment, it’s tough to find reasons to be bullish. The recent selling comes despite a weak US dollar and a taper means more bad news for gold. The bulls can only hope that tension in Syria resumes. If there’s no big bounce tomorrow, it’s dangerous to be long.
