Gold price extends decline to lowest levels since January 2017

New York (Aug 15)  Commodities are not having a good day in general as metals are suffering across the board. Gold continues to fall to fresh seventeen month lows and silver is also at session lows currently despite the dollar trading rather range-bound against major currencies on the day.

Minor support at $1,184.50 is eyed next before the 27 January 2017 low @ $1,180.66 will represent the key test for gold buyers.

At the same time, oil prices are getting pushed lower as well with WTI trading to a session low of $66.22 down by 1.2% on the day currently.

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