XGD finishinig so low basically signalled the market expected lower gold prices were coming.
US gold drifting lower with very little support on offer. Unless we see a buck against the downward trend, it looks like it's headed for another test at recent lows between 1670 - 1700.
Australian gold price fell sharper from highs above 2800 but has recently showed strength and is currently trading at 2390.
Australian stocks represented by XGD is displaying the weakest chart as it broke below 6000.
I'm looking for some trading days where gold is down or flat but gold stocks rise. This will give be the first indication for me that the tide might be starting to turn.
