Well it depends what chart your looking at to be saying that it looks bad.
Major support for gold is at 850 so we could have possibly been expecting a retrace to this level.
To be calling gold to crash is too early for mine as the chart is a still in a long term uptrend.
Sure there is some weakness in the chart short term, but a retrace to a major suppor line could be very healthy indeed.
Time will soon tell if it can hold the support line or if it slides through and beyond.
cheers
Add to My Watchlist
What is My Watchlist?