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Gold could see $1250
As risk assets rally across the board, gold has been dumped unceremoniously from its position above $1300. The attempt to hold above the 50-day simple moving average (SMA) at $1297 has failed, so now we look to see if downward momentum continues, with $1260 and then $1250 focus.
A daily close back above $1310 is now needed before we can say that the buyers are back in charge.