Gold hits an air pocket and runs lower


Falls to trend line support on the hourly

Not seeing any news, but the price of gold has hit an air pocket and the price has moved down to test a trend line.  

Falls to trend line support on the hourly

Now hearing rumblings that the Bank of International Settlements has been given authorization to sell gold. That is unconfirmed however. (Update: It’s almost surely a fake rumor).

The price is down testing a trend line at the $1655 area.   The price is stil up about $14.50-$15 or 0.89% but off the session highs at $1689.31.  

PS the high today was the highest since January 22, 2013. 

Gold on the daily chart.

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