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Gold rally continues, but for how long?
Gold’s rally has carried it through $1275, and now the next target is the $1299 level, the 50-day simple moving average (SMA).
However, it is still hard to escape the impression the price is headed lower over the longer-term, so unless it holds above $1315 the most likely end of this bounce will be a selling opportunity, with a target at $1250 and then $1200.