Gold hammered


The Market Ear with the detail.

Gold smoked

Gold is falling below important short term supports today. We are below the 2k level and trading close to the must hold 1980 area. Note the 50 day comes in here as well. A close below and things risk becoming even more dynamic to the downside.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.