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Gold likely to show weakness
The bounce has stalled below $1350, perhaps indicating that more weakness lies ahead. As a result, we may see a move to $1305, but a more substantial dip could head towards $1250 or even $1200.
Nonetheless, the trend in gold is still upwards, so a large-scale sell-off could be welcomed. Any bounce would still head towards the $1350 area, where gains stalled in July.