Not much going on in gold today so no comments are really called for in my view... I will leave you with a chart with a few annotations... gold is currently trendless with neither side ( bull or bear) having a clear advantage at this juncture. Bulls have failed to break it out above $1,260; Bears have failed to break it down below $1,220. Until one of these levels gives way, it is directionless.
Price is oscillating around the 50 day moving average. Gold shares slightly higher today are helpful along with lower interest rates.
We will see what tomorrow brings...there are better markets to trade than gold right now to be frank.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
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