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Gold prices drop to 3-month low as sell stops hit in futures market

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are trading moderately down, have hit daily lows and scored a three-month low in late-morning trading Monday. The near-term technical posture for the yellow metal has deteriorated very recently, which is inviting chart-based sellers to enter the futures market, including pushing prices into pre-placed sell stop orders that were triggered when prices fell below last week's low. December gold was last down $8.40 an ounce at $1,454.20.

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