Gold Closes Day at Lower Trendline

Gold closed today almost exactly on the lower trend line from its most recent trading patterns, as shown by the green line in this chart. I will watch carefully what the price of gold does at this point, ready to place a trade when market direction becomes clear! Gold demand is usually weakest between March and August each year, and if this seasonal factor is combined with a stronger stock market, I wouldn't be surprised to see the price of gold ease for awhile.