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Gold in the balance
Key gold areas to watch early on this week are $1220 and then $1200, both of which have provided support over the past two weeks. However, attempts to break above $1240 have also proved fruitless, so for now the picture remains unclear.
An ongoing decline in the relative strength index inclines us to a negative view of the situation, with a move at least as far as $1200 on the cards if selling gathers pace, and then perhaps on to $1192 (key support in mid-February, having been resistance in October last year) and $1180.