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Gold could see a move to 200-day SMA
We may have seen a bottom in gold for the time being. The price has bounced off the lows for the week, and if we see a move above $1250 momentum buying may help this rally to gather pace.
If this happens, we would look for a move to the 200-day simple moving average (SMA) - currently $1281 - and then on towards the descending trendline off the 2016 highs.