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Gold could drop to $1117
Despite a steady push higher into the end of the year, gold has faltered in recent sessions. The $1166 level is acting as resistance for the time being, with some short-term support found at $1150.
If this holds then bulls need to push through $1166 and then move above $1180. A failure to hold $1150 brings the possibility of a move to $1134 and then $1117.