Gold Breaks Below $1,300 Levels; Further Downside Expected

 | Aug 06, 2013 06:23AM ET

Gold breaks back below 1300.00 and approaching Friday’s key low at 1283.00, breaking below 1300.00 reverses the bias to bearish; however holding below 1300.00 over daily closing basis may confirm further downside and the resumption of the overall bearish trend.