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Gold may be in for a rebound
Gold’s attempt to build a base above $1200 for a move higher was rudely interrupted yesterday. With the price now below this key support we could see a move towards $1110.
However, with the price so heavily oversold some kind of rebound, if only as far as $1220, is still possible. If a rally does materialise, it could go as far as $1250 in the short-term.