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Gold selling off despite deep retracement
Gold has been moving sharply lower once again, coming off the back of a deep retracement earlier in the week. Crucially we did not see the market break above $1316, and as such the downtrend of the past fortnight remains intact.
A break below $1288 would confirm the continuation of this downtrend, with a break through $1316 required to negate this bearish outlook.