Gold snapshot

(Kitco News) - Gold is weaker despite triple-digit-losses by the Dow Jones Industrial Average. “With weaker equity markets and the general fear factor high, one might have thought gold would have gone bid but the reverse is the case,” says Triland Metals. “In very whippy conditions, gold has been moving lower, pressured by the stronger dollar and possible selling to cover margin calls elsewhere and a general need to work off some of the overbought condition.” Volume is moderate. Triland puts support for gold around $1,775 and resistance around $1,880. Silver also fell, tracking gold, Triland says. ”The market is in a one-dollar range within the confines of the broader $39-$43 range.”