Gold Posts New Losses

Gold is down 1.5% in today's session. In other words, the precious metal went from $1,294 to $1,269 today only. Although we are currently seeing some signs of recovery with price at $1,274 it is still to early to say that bears have accomplished their job.

Gold might continue going further down if the UK leaves the EU. This would drive investors to the US dollar and in turn, neglect Gold as safe haven.

On the other hand, should the UK remain in the EU we might see minor reaction in the Gold market. Either ways, pay attention to what the markets are doing this week.

Chart: XAU/USD D1