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Gold slumps to fresh lows for the year
Gold ran into $1245 yesterday, the area that stalled progress to the upside on Monday, and promptly turned lower and dived straight through key support at $1236, taking it to new 12-month lows.
New areas to watch for possible support are $1213 and $1205. The commodity has clocked up lower highs since April, so a close above $1266 is needed to reverse the ongoing bearish view here.