Yep, looks like a false break.
Gold finally played catch up with the ccys just in their last throes of strength & then Mr Mighty Dollar knocks it all back. Gold should return toward $1180-90 area by looks.
I more put it down to time of year, its not typically a good time for gold.
Should pick up again around Aug/Sep.
Some of those gold mining stocks are looking a little lofty imo if I'm right about gold.
Obviously Aussie helping out, but some of the all in costs are still mighty high if you ask me.
As previously stated, I'm a buyer at $1180-90 area & a seller above $1220 until something tells me gold is about to break out. Much rather be a buyer than a seller.
That quick spike into the mid $1230s was a killer for shorters of the range trade.
