Friday, September 12, 2014

Gold Decline Accelerates

We are bearish to ~$875.
$1229.20 last.
From MarketWatch:

Gold slips for 5th straight day, posts 2.8% weekly loss 
Gold futures fell for a fifth session on Friday to close out the week 2.8% lower.

Retail-sales data matched expectations, raising confidence in the U.S. economic outlook and dampening haven demand.

This week, gold has been undercut by a dollar that’s finding support in expectations the Federal Reserve will take a more hawkish tone on interest rates.

Gold futures for December delivery GCZ4, -0.81%  shed $7.50, or 0.6% to settle at $1,231.50 an ounce. December silver SIZ4, +0.03%  edged up a penny to $18.55 an ounce but still dropped 2.8% for the week...
...MORE
 
And from FinViz: