Gold price, page-6518

A couple of great posts last night, re interest rates and the markets in general.

In a nutshell, worries in the US market that they need more stimulus to continue these lofty highs.
Do the fed try and kill gold or the DowJ?
Finally something gives POG a bit of breathing space, yeah?

"Post 19814474: be dovish to pump the equity market"
Great call that one.
The news headline that followed hours later was "Fed can be 'gentle' in hiking rates, Dudley says".

"Post 19815275: S&P price action resembles 1987 crash"

VIX up 3.58% last night, shows the nerves up a bit.

Very tight sideways consolidation now.
Little to no move up in POG and yet the HUI closes up 2.24%!

@binwood , those downtrending lines we talked about were breached earlier in the evening but very briefly.
We might be past one of them now, but can these break today? Arguably the big moves will come after our session, and I still don't rule out another dip under $1,250, but the tension finally seems to be building for the bulls again.

To me, the $1,258 area I highlighted on Tuesday still looks like it's a relevant level to focus on. All the current action seems to be above the Brexit low ($1,250) and trying to break upside of that (the 2 horizontal lines)