Gold Drops To $1,231

The precious metal lost some $30 since yesterday's climb as traders and investors made a flight to safety and boosted prices to $1,260.33 in response to the horrible events that took place at Brussels airport and metro yesterday.

In the early trading hours, Gold depreciated and went down to $1,231 to currently trade at $1,235. Gold broke the support line at $1,245 which makes it a desirable prey for bears. If Gold continues to trade below support, we may see an attempt to take over the $1,200 level.

Gold has been in an uptrend since it's lowest at $1,046 made in mid-December which suggests that we may see a correction to the opposite side.

Chart: XAU/USD H1