Gold has a bearish bias
The futures contracts for August delivery in the COMEX gold in the New York commodities exchange was trading at a 15-week low of $1,265 per ounce, down $25 from its open. There was no fundamental news flow pertaining to the yellow metal itself as bears took over.
The only explanation for the sell off would be the US equity markets at all time high as investors are growing more confident about the prospects of a sustained economic recovery.