The XAU Index appears readying itself for continued weakness. On the XAU daily MACD chart the probabilities are increasing for a downward crossover event which historically equals lower gold share prices. It is believed big hedge funds are now shorting and will only increase their shorting once the crossover occurs. We are very close, as the faster moving average is about to head lower beneath the slower MACD moving average line.

http://stockcharts.com/h-sc/ui?s=%24XAU