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Gold could test $1174
Gold bears were afforded an excellent chance to short the metal, as the Friday rally hit $1195 and then fell back again.
This kind of price action would seem to indicate that a test of $1174 and then $1157 is likely, assuming that the sellers can break Friday’s low at $1180. Buyers need to push the price back above $1195 to indicate that a rally is at hand.