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Gold pounded by dollar ascension
The steady ascent of the dollar continues to hit gold, which has hit its lowest level since late June. So far the $1305 support level continues to hold, but if this fails then $1257 becomes the next area to watch.
The best hope for gold bulls would be a weak non-farm payrolls reading tomorrow that takes some of the fight out of the greenback. Even so, the downtrend is still in place so the approach would still seem to be to sell the rallies, up towards $1320.