XAU Trading Outlook (16-04-2013)
Gold (XAU) dropped a whopping 160 dollars per troy ounce yesterday to 1322 US dollars amidst heavy trading. Markets have been selling the precious metal heavily since last Thursday. The selloff was supported by a slowdown in Japanese growth and an overall selloff of commodities but was sparked by rumours of a Eurozone member selling its gold reserves as part of an EU bail-out package. Looking ahead some correction may occur while the overall direction is negative amidst the sharpest fall in 30 years.
Back to XAU Trading Outlook Archive
