Don't be fooled people. Today was simply another bull trap in the metals, gold is now bear flagging. The volume in the futures was huge, big effort and not much reward. With such large volume gold should have gone much higher. It means that the shorts have been selling into strength.
Non Farm Payrolls and Jobless claims data will bring lots of volatility. I believe gold will break down below 1214 by Friday or early next week. Also, there was large selling on strength in gold and the miners today. This also reaffirms that most of today's volume was large supply coming into the market.
Today was just another bulltrap. Gold is BEARISH and lower prices are still coming.
