Despite its slight recover , the Gold declined extending its wave of losses to trade near its lowest level in four and a half years with the return of the US currency to rise against all major currencies in addition to the slow demand for safe-haven currencies and precious metals.
All the finical markets will resume their trading today after two days of lack of liquidity and the absence of major news driving the market due to public holidays in both the United States and Europe.
The Gold dropped near $1145 per ounce, after an upward correction which represents good opportunities to enter sell positions, as the general trend of the Gold is expected to remain bearish, and a break below the $1145 to the downside, will send the prices toward $1333, then toward the next expected target around the Fibonacci Projection 127 % at $1100 per ounce.