As I noted when I first posted this chart mid April
, the 1275 level is a key support for gold
. Today that support was busted. Unless bulls can rally gold
back over 1275 and close a weekly candle over that figure gold
will likely probe last years lows ~1200. My gut tells me that level will not hold (triple bottoms are not usually good lows) and 1050 then 950 comes into play.