Wed 09 May 2012 11:24:01 CT
After another sharp range down washout June gold was able to forge a modest bounce off the early lows. However, gold and the rest of the metals complex remained weak and in negative territory this morning in the face of weak US equities. Many physical commodity markets like gold continued to see pressure from the currency markets and that in turn suggests that fears continue to flow from the Euro zone. Obviously technical damage on the gold charts has contributed to the slide in gold prices today, as June gold continued to fall through a series of potentially critical points on its charts.
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