Thursday, September 22, 2011

Gold ~ Update ~ 22 September 2011

Along with everything else gold declined today and is now near the late August low again.

Maybe you remember the triangle I showed ten days ago. It broke to the downside and since then gold has lost  around 100 $:

The 1670/1705 area (gap/Aug low) is the next strong support area. If we break it we should head to the 1550ish area: