Gold Futures Update

Gold is continuing the slide started Monday last week where the falling channel makes lower highs and lower lows on a daily basis, market is currently subject for increased volatility but pressing towards main supports at psychological $600 and technical area $590 - 595/oz.

We prefer to treat it as an intra day affair selling from current resistance at 626,20 if possible.

Market outlook for the Gold is currently negative as we see Gold tracking Oil and the Geopolitical situation in Middle East.