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Gold’s rally intact
Buyers continued to defend gold's $1240 area yesterday and, so far this morning, early losses are being reversed.
The next targets above $1250 are the 200-day simple moving average (SMA) at $1255 and then $1260. Below $1240, the price will head back towards support around $1236, but it will take a move below $1230 to reverse the broadly optimistic outlook.
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