Gold takes a quick trip lower as US traders return


Gold again to Thursday ranges

There is not a headline behind the short drop in gold costs however it comes as US merchants return from an extended weekend.

The tone in markets is calm so which will have taken a few of the premium out of gold however I believe that is extra about flows. There was infinite chatter about Venezuela promoting and that could possibly be the motive force.

Technically, it is one other failed bounce for gold however there’s loads of help from $1270-$1262 so I do not envision any sort of deeper breakdown.

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