Gold Falls to 4-Month Low on Technical Selling Pressure

London (Mar 17)  Gold prices experienced slight early losses to trade moderately lower after the futures market opened. April gold futures  sunk to a four-month low, pressured by chart-based selling that included sell stop orders being triggered when key near-term technical support levels were breached. The gold market bears have gained more downside technical momentum and now their next objective is to push prices below technical support at the November low of $1,132.10. April gold was last down $10.20 an ounce at $1,143.00.

Spot silver also slid 5 cents to $15.58 on lackluster volume.

Source: KitcoNews