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Gold continues its climb
Unsurprisingly gold continues its ascent, moving in a straight line yesterday and hitting $1100 in early trade today. The 50-hour simple moving average ($1084) provided good support early on Wednesday, so a dip today towards this level could provide another buying opportunity.
The daily relative strength index (RSI) and stochastics are beginning to look overextended, but a continued move higher heads towards $1108 and then $1120.