Gold Trades Below Support

Just as the Euro is hanging by a thread above its chart support zone, so too is gold hanging by a thread above a critical chart support zone. The bottom of that zone is the July low near $1070 with the zone extending upward towards $1080.
Gold drew a bit of support in today’s session ( Monday) out of safe haven buying tied to the horrific carnage in Paris but as is always the case with gold, rallies that come from geopolitical events, generally do not last long, especially when the underlying fundamentals for gold are as poor as they currently are.  (more)