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Gold back to vital support
Hopes of a strong move higher have been dashed as gold slumps from above $1200.
However, over the past two weeks dips below $1195 have found buyers, so a close below $1190 is needed to suggest that the sellers are back in control. This opens the way to $1180 and $1160. A bounce from $1195 targets $1214, where gains have stalled since mid-August.