Gold prices eased back below USD $1300 per ounce overnight as a follow up wave of selling hit major US and European stock markets, all of which closed down...

Gold prices eased back below USD $1300 per ounce overnight as a follow up wave of selling hit major US and European stock markets, all of which closed down over 1% for the day. The sell-off on major bourses, which began late Friday, has been particularly brutal on the smaller cap, technology and biotech space with companies companies like Facebook falling significantly. Overnight US credit figures looked good if only pay attention to the headline, but more than 100% of the total was non-revolving, and 98% of credit growth in past 12 months has been the same (all car and student loans). Gold at an interesting juncture here, just above 200DMA but with no obvious bullish catalysts. Saying that, with equities selling off, bond yields falling and geopolitical flare up unable to be ruled out, who'd go short? Full details here (VIEW LINK)