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In this Thursday, Feb. 14, 2013 photo, an Indian woman looks at a display of gold jewelry at a shop in Mumbai, India.
In this Thursday, Feb. 14, 2013 photo, an Indian woman looks at a display of gold jewelry at a shop in Mumbai, India.
(Rajanish Kakade/AP)

SCOTT BARLOW

Gold hits the dreaded 'death cross'

ROB Insight is a premium commentary product offering rapid analysis of business and economic news, corporate strategy and policy, published throughout the business day.

Whether gold has intrinsic value is a matter of much dispute, to say the least. But no matter what your view, one thing is clear: the day-to-day movements in the bullion price are determined primarily by technical factors. And the news this morning that the gold price is showing the Death Cross, arguably the most bearish of all technical signals, is not good.