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Does a potential unwind await gold?
Having briefly touched $1200 yesterday, a modest gold pullback is underway. A continuation of this move takes the price down to $1170 and then $1148, the lows of 5 February.
Given the parabolic move in gold prices since the beginning of February, the possibility of an ugly unwind looms large, A pullback all the way to $1148 would still leave gold in a strong uptrend, and, crucially, above the monthly downtrend line that it broke last week.