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Gold at risk of moving lower
Gold progress beyond the $1130 area has been absent over the past week. While the hourly uptrend is still holding, the risk is that the price begins to move lower, down towards support at $1120, and then potentially down to $1112, and the lows of last Friday.
The 200-day simple moving average ($1131) and then the monthly downtrend line stand in the way of any further gains, but if it is broken then the next target is $1137 and then $1145.