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Gold back to selling
There were signs of a recovery for gold yesterday, with the price attempting to rally off the lows, but it looks like the selling is resuming today.
An area to watch is $1205 as a break here clears the way to the March lows at $1195. Below this $1180 comes into play. Bulls will be disappointed unless they can post a daily close back above $1214, and this might then suggest a move back to $1230, the 200-day simple moving average (SMA), and then the $1240 area.
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