Sterling stumbles into Q4, Gold dims
Gold lost some of its glimmer on Monday, as investors entered the final trading quarter of 2017 with a risk-on attitude.
The downside was complemented by a strengthening US Dollar and expectations of higher US interest rates, which encouraged bears to install fresh rounds of selling. With the yellow metal achieving a monthly close below $1,300, Q4 could be the quarter in which bears make a serious move to drag prices to back towards $1,240, and potentially even lower.
bearish on the weekly timeframe. The breakdown below $1,280 should encourage a decline towards $1267 this week.