Gold breaks another technical level
A mini flash-crash in silver in Asia put the precious metals market on edge today. It took awhile but gold's decline has resumed and taken out another big level.
The drop below the May low now puts gold at the worst level since March and within striking distance of $1200.
There isn't much for the gold bulls to be excited about. Central banks are easing back on the money printing and cheap money. Inflation isn't an issue. Geopolitics aren't a big worry.
Beyond $1200, there is support at the March low of $1199 and the late-January dip at $1180.
