1.) Fed rate hike talk
2.) No real value in holding which doesn't earn you money except in case of capital appreciation
3.) No war on sight and recent so called Grexit fears couldn't even push it few tics higher
4.) Fear mongering about due to - Everywhere crowed is losing battle and in line to liquidate their holding. Well eventually those loss making funds have to go ! and that might put gold below $1000.
So trade is simple. Stay short or go short whenever good bounce materialize which can give us opportunity to define the risk.
Our last short from around 1200 is now $100 in money ! and now we are waiting for better levels to add if it goes near 1140.