Gold trades to the lowest level since August 5th

Gold reverses and trades lower on the day

The price of gold was up earlier in the day. The price extended to a high of $1466.50. That was above the Friday close at $1459.00.
Gold reverses and trades lower on the day
However, the price action has reversed and  the precious metal is down testing the old July high at $1453.09. Below that is the 38.2% retracement of the move up from the May low. That level comes in at $1446.04.
The price on Thursday last week fell below the 100 day MA (blue line currently at $1477.20). It will take a move back above that MA to solicit reversal of the recent tilt to the downside.  That potential would be helped if the 38.2% retracement can hold support.  For now, however, the sellers are still more in control.