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Gold’s rally coming under threat
The push above $1200 has faltered for gold, and further declines are seeing the price push below the lows from Tuesday.
A close below $1187 would suggest $1180 and then $1160 are back in play, as a lower high in the current downtrend is created. A close above $1200 is needed to reignite the move higher, targeting $1205 and then $1214 in the short term.