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Gold breaks key support, with further losses likely
Gold continues to trend lower, with the price falling below the crucial $1265 and $1260 levels. That points towards further downside, where the longer-term view is now affected to bring a wider bearish outlook, to accompany the short-term outlook.
Given the highly extended nature of this current move, it makes sense to look for retracements to short into, with $1260, and $1265 of particular interest.