Gold Declines

After stalling in upper 1250s for four consecutive trading session, Gold futures have turned sharply lower in Monday's trading. The contract, briefly traded in the 1250 handle off the open, reached 1251.20 before turning south. The decline cut through the double bottom from Wednesday (1235.50) and Friday (1234.10) lows, reaching 1224.60. This level coincides with the former low of the move at 1225.80.