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Struggle for gold

Gold didn’t sustain its recent move above usd 1,200 per ozs as investors looked towards the improving technical picture for gold in a quiet period for news. A break above usd 1,200 was followed by gold peaking at usd 1,214 an ounce a few days later. This is despite ‘headwinds’ of optimistic economic data (usually not positive for gold).  Gold has lost out to the dollar in a battle for safe-haven flows. A firmer dollar makes gold more expensive for holders of other currencies. Still makes a challange to take your position(s) in almost all precious metals in these lower levels, you can take your bet.