The gold market along with all precious metals are lower this morning on the back of news from the IMF regarding the potenital for gold sales to raise cash for the IMF.
LONDON, April 2 (Reuters) - World leaders at the G20 summit will discuss the possible sale of International Monetary Fund gold to boost its resources to tackle the economic crisis, a British government minister said on Thursday.
It's a matter of discussion this afternoon, Britain's international development minister, Douglas Alexander, told reporters at the summit.
I wouldn't expect there to be an immediate decision out of today's meeting to sell gold tomorrow on behalf of the IMF.
But he said background discussions had taken place.
There have already been discussions between the South Africans and others (G20 countries) on whether the gold market can bear a phased and appropriate selling of gold in a way that makes sense commercially.
A close below the $920.00 level is technically detrimental to the ongoing uptend.