Is Gold Stabilizing?

On the Day1 chart Gold looks like it finally found the so-needed support right after the 5.5-year low made on July 20. After Gold reached $1,071.28 it regained some of its value to currently trade at around $1,090-$1,095/oz.

Although still in the negative, Gold looks poised to try and climb at least to the psychological key level of $1,100. If it does not find the strength to do that, market participants might quickly lose interest thus creating low liquidity and opening the way to further depreciating the yellow metal.

Chart: D1