Gold Price : Short-Term Outlook Negative

New York (Nov 3)  Gold short term outlook negative, and holding below 1137 targets 1130/29, then 1123/22. This area is a strong short term buying opportunity and could see a low for the week.

First resistance at 1137/38, but above 1139 could target stronger resistance at 1143/44. Try shorts with stops at 1147. On an unexpected break higher, however, look for 1144/43 to act as support for a move towards strong resistance at 1150/52. Try shorts with stops at 1156.

Silver short-term appears equally negative.