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Gold descent continues
The fall goes on here, but the price is now close to the $1200 level, which was key support back in June. As long as the dollar continues to strengthen there seems little chance of a turnaround.
There is some potential support at $1190, but below here we could see a swift drop to $1070. Oversold conditions persist, but we’ll need a move above $1230 to confirm a bounce is in play.