Not surprisingly, the gold market started off under noted pressure today with a six-day low largely because of the upside breakout in the dollar to the highest level since mid-November and from a slight increase in US treasury yields following a hawkish overnight speech from the US Fed chairman.

With the gold market adding to the January recovery rally last week before failing and reversing the market was giving off technical signs of an intermediate top last week.

Unfortunately for the bull camp, outside market impacts of the dollar and treasuries shifted patently bearishly after the much stronger-than-expected US nonfarm payroll reading...[MORE]

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