Gold – Yellow metal turns green
Gold remains heavy this morning with a deal in Washington tantalizingly close. Pressures on spot prices are coming from ETF flows ( GLD , quote ), as well as institutional sales.
This morning gold heads through $1,260 and despite holding flat yesterday is now down -4.5% over 6 sessions, as DC talks evolve.
Gold's June low of $1,200 will be tested as a 6 month can kick down the road likely will defeat all the yellow metal.
A break of $1,258 on the charts will quickly send god to $1,235. Call interest appears around $1180.