October 23, 2017

Gold prices are trading $1,276.00/oz. this morning, off $4.00 from Friday and following a decline of $24.00 last week. Prices are very close to the 100-day moving average (approx. $1,275.80). The US dollar is firm against the Yen following elections in Japan. The Managed Money net long Comex gold futures position has fallen 33.1% in the 5 weeks ending October 17.