There continue to be strong headwinds created by multiple financial asset classes which have continued to pressure gold pricing.

In overseas trading last night, gold traded to a critical support level that occurs at $1793.70, which is based upon the 100-day moving average. Gold futures traded to a low today of $1791 which is a few dollars below this technical support level.

Gold is undoubtedly swimming against strong currents, which are curtailing any move to the upside. Recently it has been struggling successfully to stay above $1800 per ounce.