Gold struggles carry over to the new week, down 1% on the day

<p>Things are really not panning out for gold so far this January, as the precious metal sinks lower in European trading today. It is now down over 1% today and it looks like sellers are leaning towards a push to $2,000 next potentially, if the technicals are anything to go by.</p><p>There's still a trendline support at around $2,003 to get past but sellers are in the driver's seat in the near-term now. And it's not likely things will change unless bond yields start dropping or the market reverses the price action from last week for some other reason.</p><p>And by the looks of it, we might not get any such conviction until Thursday when the US CPI data gets released.</p>

This article was written by Justin Low at www.forexlive.com.