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Gold weakness could be short-lived
Gold has been selling off overnight, with the price having passed the 61.8% retracement this morning. Given the recent uptrend, there is a good chance we could see the price begin to rally once more from here.
On the wider perspective, the inability to break through $1296 provided mixed signals as to whether this trend will continue. However, it still looks attractive to be long at a deep retracement as long as we do not break below $1259.