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Gold momentum has slowed
Gold's steady ascent since late July has run into a roadblock, with a gap down taking the price below the $1337 level.
Given the steepness of the trend since July, we could see the price head all the way back towards $1300 and still be in an uptrend. Support is possible around $1326 and then at the 50-period simple moving average (SMA) at $1312.