Prices are drifting cautiously lower having topped below $1350/oz three
weeks ago. Near-term support is in the 1284.09-87.13 area, marked by a
falling trend line set from late June and the 38.2% Fibonacci expansion.
A break below that on a daily closing basis exposes the 50% level at
1269.22. Alternatively, a reversal above the 23.6% Fib at 1309.20 eyes
the 14.6% expansion at 1322.94.
