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Gold: Above $1,300, but bull breakout remains elusive

10 days ago   |   By FXCM

Gold trades above $1,300, having clocked one-month high of $1,309 yesterday.
Technical charts show false breakout.
Currently, gold is trading at $1,302, having failed to capitalize on the bullish breakout.
The zero-yielding yellow metal rose to $1,309 yesterday - the highest level since May 15, signaling a bullish pennant breakout.
However, the optimism was short-lived as prices fell back to $1,300, possibly due to a sharp rise in the dollar index, following ECB's dovish taper announcement. Also, a better-than-expected US retail sales may have played a role in pushing prices back to...
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