After suffering the worst day in 6-weeks
Gold futures have stabilized ahead of key
Fibonacci retracement (61.8% of latest minor range). Also, a small
double bottom seems to be forming on intra-day technical charts. More importantly, from a bigger perspective,
Gold futures have seemingly held up the month of August after breaking long-term (monthly chart)
trendline resistance. This suggests that if a higher base is confirmed (clear break to the upside of 1280) here, then
Gold should re-test the critical 1300 threshold.
