Gold bounces back in third day of gains
Last Thursday's drop in gold looked like the bulls throwing in the towel after a flop in a retail-led precious metals rally at the turn of the month.
Instead, gold has gotten a second wind after three days of gains. It's up another $11 today to $1842 as the US dollar softens.
We might also be seeing traditional buying on lunar new year holidays which last from Feb 11-17 in China.
This bounce underscores support at $1765 and last week's low of $1785.
Inflation talk is bubbling up and it will continues for months as easy y/y comps turn but the seasonals aren't great for gold after February.
