GOLD - "The not so Safe Haven"

As expected, the US general elections spiked Gold well over 500pips in minutes. With the elections now done and dusted, the technical bias of Gold still remains bearish. Looking closely at the charts, we have closed back down below monthly and fibonacci res. With a clear break of temp. counter trend line support, this commodity will most certainely be heading for new lows. First downside targets @1248 due to obvious support and break of this level would see GOLD drop even lower towards $1210 - D.WIllis