Gold Futures Trading Lower

Gold futures are trading lower by $6.40 at $1078.50 in Thursday's session It has been in the red in nine of the last 11 sessions (the two outliers being back-to-back $0.40 gains on Monday and Tuesday). Over this course of time, the contract has declined nearly $100 from its October 28 close of $1176.10. In today's session, it found intra-day support just ahead of the July 24 low ($1072.80), bouncing off $1073 and is now attempting to remain in the $1080 handle. Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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