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Gold downtrend at an end?
The price has halted its decline just above $1200, so we may be seeing an end to this leg of the downtrend.
A rally could take the price back to $1250 or even to the 200-day simple moving average (SMA) at $1280, provided we see a push above $1230.
If $1200 is broken the next area for real support could be as low as $1100-$1110.