Gold rips more than $20 from the lows

Big squeeze in gold ahead of the weekend

I hope your read my post from earlier today where I outlined three reasons gold could bounce. Prices have ripped to $1100 from $1077 at the start of US trading.

The 'tell' was the short-term double bottom from $1077. Fresh selling as US traders arrived couldn't break that low from Asia and that was a sign for the sellers to head to the sidelines.