I maybe on my holidays in the highlands of Scotland but I had a chance to look at the odd chart. Earlier this week I drew attention to the gold price coiling up into a tight triangle pattern (click this hyperlink to read that piece).
I hadn’t expected it to explode so soon but I see that it did that a couple of days back. Take a look at the chart below.
Its broken strongly south this week and headed back down towards the $1250 area. Keep an eye on it in case it continues down to the 2013 lows.