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Higher movements for gold
Gold bounced-off $1210 earlier in the week, and then pulled back to around $1220, before moving higher again yesterday. Having dropped back from the high overnight at $1240, the price may now find support around $1230, before moving on towards $1241 again, with further upside targets at $1260 and then $1277.
The 50-day simple moving average (SMA) ($1222) continues to provide support, so it will take a dip through here and then below $1206 to suggest further downside momentum.