Gold Slips Below Key 200-Day MA, Pops Right Back Above It

(Kitco News) - June gold futuresprices Monday morning dipped below thetechnically important 200-day moving average for the first time sincelate-December, but then popped right back above it. This is one encouragingsign the recent selling pressure in the gold market could be ending. However,it will be important for June gold prices to hold above the 200-day movingaverage today. If such is the case, it would be one clue a near-term marketbottom is in place. June gold was last down $8.20 at $1,315.10.

By Jim Wyckoff

For Kitco News

Follow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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