FXWW News

Gold under pressure in Asian trade

Gold broke below $1705 and triggered stops all the way down to $1696 before stabilising.

It’s unusual for Asian markets to sell Gold but then again there is an ever increasing divide between the heavily manipulable futures markets and the solid physical markets. If you want to be long Gold long-term then buy physical because in the unlikely event that we fall off the  fiscal cliff, its not the promissory notes you will want to be owning!

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