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Gold uptrend remains intact
Gold is rallying after yet another sell-off which failed to break below the key $1260 support level. As such, the gradual recovery we have seen since the early October sell-off remains on track.
An hourly close above $1272 would provide us with a sign that we are breaking higher once more.
Conversely, an hourly close below $1260 would be a warning sign that the selling pressure could be coming back into play.