GOLD : Next support at $1540-1545
Breaking below the 1600 mark with ease, GOLD’s next support is at the $1540-1545 level. A break below here should see a decline to 1490-1500 or so. We do hope so.
However the market action seen over the last few days now brings in to question much lower support in the 1200-1300 range. A Europe default could easily spook the markets and in this case gold to such depths, and with it the SET below 800 again.