Gold (GLD -2.1%), (IAU -2.2%) sinks back below $1,400 as the bounce since mid-April is over

  • Wednesday, May 15, 11:16 AM ET

    Gold (GLD -2.1%), (IAU -2.2%) sinks back below $1,400 as the bounce since mid-April is officially over. At work here, suggests RBC Capital, is the strong stock market. To participate, foreign investors sell gold, buy dollars (UUP is up big in May), and call their stockbrokers. Commerzbank notes gold ETF outflows were another 6 tons yesterday, bringing the total since early April to 230 tons. Silver (SLV -3.1%) tags along.

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The Art&Science of Trading Gold
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