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Gold dips but upward move intact
Over the past week, the rally in gold has run into resistance, but for the moment a new higher low seems in the offing.
Further gains target the $1260 area, with yesterday’s high at $1241 a near-term target. A move back below the overnight low around $1233 would likely signal a deeper retracement within the short term, although the rising trend from the August lows is intact.