Gold closed yesterday around $1660 an ounce and traded in the midst of its latest high at 1672 levels, despite an overall bearish outlook since its 1752 high from November 23rd.
Gold’s current range between $1651 and $1666 is volatile but still a robust trading range with RSI hovering at 50 figures…

Gold closed yesterday around $1645 an ounce after a very bearish trading session, amid no news of any progress in talks surrounding a fiscal cliff resolution.
Trading below 1670 has triggered bearish technical indicators, challenging the support level at 1643 which could break during intraday trading, but should act as a strong support at least until the coming weekend…

Gold closed yesterday around $1667 an ounce after a volatile trading session amid numerous press conferences and speculation in regards to the fiscal cliff.
Gold is on the down trend as investors realize that more stimulus to the US economy has failed to produce the effect needed so far by the Fed. Conditions for further stimulus are dependent on low inflation and high unemployment at least above 6.5%. These conditions have contributed to bearish sentiment as hedge against inflation is already priced by the Fed through these two thresholds…

Gold closed yesterday at $1670 an ounce just below its 38.2% Fibonacci line on the daily chart and has continued its sharp decline the past few days amid fiscal cliff talks and a positive economic outlook. The next support level for gold, if it continues its drop, will be at $1642 an ounce at the 61.8% Fibonacci line.
Budget deal talks are still the major factor pushing the price of gold, and traders should watch carefully any press conference which offers further details and clues about a resolve to the fiscal cliff. Building permits and housing starts will also affect gold’s price…

Gold closed yesterday at $1698 an ounce and has continued its current trading range between $1695 and $1702 with a bullish outlook ahead of a potential fiscal cliff agreement this week.
The agreement by Congress will discuss between 250k and 1million in tax increases, with Obama hoping for a compromise at around…