The spot gold price is currently trading near key technical support located at US$1322. It has the potential to generate a technical top formation / generate a technical sell signal. A New York close below key support located at US$1322 is required to activate the sell signal, which if this occurs, would target a minimum pullback to US$1265.
Angela has 30 years experience in the technical analysis field. Angela joined QMG as a technical analyst in May 2014. Angela was the technical analyst at Bell Potter for 16 years, providing technical analysis coverage to the retail and wholesale...
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Think you could be right Angela - market feels like it wants to push lower temporarily here - a 'hawkish' Yellen (a relative term if ever there was one) at Jackson Hole could be the catalyst
It has been interesting to note that in mid-August a cluster of gold stocks generated technical sell signals. Commonly, stock technicals lead the related commodity.