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Gold faltering despite bounce
The price for gold has bounced off the lows of late March at $1320, but now it has faltered and looks at risk of testing the rising trendline from $1307.
Below $1320, $1314 and $1307 come into play. A rally will target $1345 and then move on to test $1355. The inability to hold above $1350 so far this year suggests a weakening of momentum, but $1307 continues to provide strong support.