Gold is struggling to get fresh buyers that would take it decisively above the psychological level of $1,200. The yellow metal tumbled last week and made a low of $1,181 per ounce. However, it managed to bounce from those levels, recovering some of the loss, and closed at $1,191 per ounce, down 0.7 per cent for the week.
Gold Outlook
Gold Price Attempts Breakout…Yet Caution Warranted
Gold Silver Reports — Since gold’s all-time high of $1,923 per ounce in September 2011, the nearly 6-year decline that this week has brought prices back to $1,270 has been broadly defined by a falling linear trend of selling pressure.