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Charts show gold selloff could get a lot uglier

Posted on 01 July 2013

From a technical perspective, the outlook for gold is looking increasingly bearish, according to analysis by Australia New Zealand Bank (ANZ), which says the recent sharp declines open the risk of much sharper corrections.
If the yellow metal slides below a key support level of $1,150, the selloff could accelerate to $1,030 or even $870 an ounce – levels not seen since 2008 during the global financial crisis, Victor Thianpiriya, commodity strategist, Asia at ANZ wrote………………………………….Full Article: Source


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