| Geopolitical and risk events initially provided some lift at the start of the third quarter but gold failed to clear $1,350 per ounce, prompting further stale liquidation from institutional investors. Resurgent dollar sentiment, coupled with growing signs the US Federal Reserve will begin a cycle of monetary tighten from next year triggered a deeper correction to $1,200 by the end of the quarter.
Gold has found strong jewellery and retail investment demand towards $1,200, which should help limit any further falls, but gold is approaching a key double bottom around $1,180. A breach of that level could threaten a deeper correction towards $1,100...............................................Full Article: Source
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