Goldman Worries Weigh on Gold Price

Goldman worries should displace confidence in USA, Inc. To prevent investors from reaching this conclusion, it's easier shove the dollar, in hopes that the trend line break on 4/12 doesn't create follow through, and pressure gold on the news. Market action creates market commentary over the short-term. Any longer-term conclusions cannot be supported by the markets.

The Securities and Exchange Commission Friday charged Goldman Sachs with fraud which dragged down gold. Prices have been looking to make a move past the $1,160 area to $1,175 an ounce as momentum buying increased gold's appeal as an alternative asset. However, after fraud charges were brought against Goldman, investors lost their risk appetite and dumped all commodities in favor of the U.S. dollar.

Source: finance.yahoo.com