1. Today’s June gold declined sharply after several weeks of directionless movement.
2. While not an outright forecast, it is likely lower prices are coming, including a test/attempt at $1252/$51 (or lower). Today’s daily close was $1263.40.
3. Will message any further entry based upon the above as the market confirms.
1. Our recent Tuesday, May 27 report indicated that gold, (then trading at $1263) would likely decline and test $1252/$51 (or lower) this week.
2. June gold continued to decline on Wed. (May 28) and today (Thursday, May 29) completed the $1252/$51 downside target (today’s session low, $1250.90, so far).
3. This is an important downside completion. A weekly close above $1251/$52 is the stronger position and will likely prompt further update/trade.