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Gold fights to hold support
Gold has been helped off its lows by a modest rally, but unless it moves above $1291, it is merely another bounce that will find fresh sellers. The lows of the week at $1268 still hold for now, but if broken then $1264 and then $1250 come into play.
Latecomers should be careful, since the price is now heavily oversold, with momentum indicators potentially moving towards a bullish crossover within the context of the December 2016 uptrend.