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Gold could rally after refusing to fall
The dip through $1080 yesterday saw buyers come back in, so while it can't be certain that a bottom is in place, today might mark the start of a rally for gold. This would be confirmed if we saw the price go back above the $1096 area, where the week's limited upward momentum petered out. A daily close below $1080 would then suggest that sellers are back in charge and the new target is the 2008 high of $1035.