Gold could sink to US$1,000 if support lines breached: analysts

[LONDON] Gold's slide to eight-month lows over the last week has brought it within sight of a cluster of chart support lines near its 2013 lows, a breach of which could set up a slide back to US$1,000 an ounce.

Analysts who study past price patterns for clues on the next direction of trade say a breach of support around the metal's June 2013 low of US$1,180 an ounce could see it fall back towards triple figures as soon as early next year.

Around the June low, lines of support run all the way down to...

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