| It’s handbags at dawn in the gold market this week. Much to the surprise and/or dismay of many, gold has taken a dramatic dive, breaking below $1,600 a troy ounce for the first time in almost three months as deteriorating faith in the future of the euro-zone sent the euro tumbling, dragging dollar-denominated assets such as gold down in its wake.
At the same time, conscious cash generation has combined with waves of technically-driven selling to escalate losses in gold, pulling several key levels of support out from underneath it in the process...............................................Full Article: Source
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