Gold touched a two week low of $1305.98 today but is reluctant to break mount a serious test of $1300. The low today narrowly surpassed Friday’s low of $1306.00.
The declines came after the ISM data as a nearer term taper grows more likely.
Gold has declined for 6 consecutive days but on two of those days the decline was less than a $1 and the cumulative decline has been just $46.
There’s a case for gold shorts down to $1250 but not until $1300 breaks.
Gold daily
