Up $5 or 0.44% on the day
Spot gold fell to a 10 month low at 1151.26 earlier today but has bounced back and currently trades up $5 or 0.44% at $1165.
Technically, the gains for the year have dwindled down to about a 10% gain on the year. That sounds ok but at the highs in July, the gain for the year was close to 30%. The move lower has retraced more than 61.8% of the move up from the December 2015 low. That comes in at 1172.94. That is a topside target that might lessen some of the bearishness, if traders can get the price back above the level.