Adam Sarhan Reuters Gold Quote: PRECIOUS-Gold drops 1 percent on technical selling, HSBC cut

Adam Sarhan Reuters Gold Quote: PRECIOUS-Gold drops 1 percent on technical selling, HSBC cut

Thu Jan 24, 2013 3:03pm EST * Failure to break 50-day MA dents gold investors’ confidence     * Futures volume high, partly boosted be Feb-April rollover     * HSBC shifts allocation out of gold     * Coming up: U.S. December new home sales Friday     By Frank Tang     NEW…