While there is still one trading day left in the week gold has lost considerable value since trading began on Monday. Considering December gold futures opened at $1819 this week and are currently fixed at $1772.20 per oz. gold has given up $47 in value.

One of the comments from yesterday’s “After Hours” article was a question about the identification and validity of a pattern.

Gold futures traded to a lower low than yesterday but held above its 50-day simple moving average. Today gold traded to a low of $1785.40, below yesterday's low of $1787.60.