Buzz & Banter
Yesterday I mentioned that we should keep an eye out for gold, both Lil Kim's and the August futures. We marked 350 as the line in the sand where a tick there would break a triple bottom and suggest at least a temporary end to the move that began in May.
It didn't take long to take out that level in the morning session and the next support for the August futures is down in the 338 area. Also, the Philadelphia Gold & Silver Index (XAU) is moving closer and closer to the 74 level, which would be the first sell signal for this index since late February.
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