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Gold eyes move to $1305
With the US dollar back in fashion gold has taken a turn for the worst, with the price having stalled around $1345 at the end of last week. Now we look to see if the price will continue to head to $1305, the lows of last week and vital support for the price since June.
Intraday the price is now heavily oversold, so we may see a bounce materialise, offering a chance for shorters to get in at more attractive levels. A move back towards $1332 may provide that bounce.