Today let's take a look at Gold, there might be a few reasons to drive the gold down.
1) Down fall of oil
2) Rise of USD
3) Bearishness of commodities due to fund liquidations
Anyhow, we don't really need to know the real reason. The chart shows Gold has broken is recent major support around 739.8. All the indicators are bearish, we need to wait for the first impulse before going bullish on Gold again.
One of the biggest lesson I learnt, never fight the trend. The probability is against you when you fight the trend. You might get a few winners off countertrend moves, but in the long run the odd is against you.
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