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Gold: Remains On The Offensive Short Term
GOLD: The commodity
continues to face price offensive leaving risk higher in the days ahead.
On the downside, support comes in at the 1,280.00 level where a break
will turn attention to the 1,270.00 level. Further down, a cut through
here will open the door for a move lower towards the 1,260.00 level.
Below here if seen could trigger further downside pressure targeting the
1,250.00 level. Conversely, resistance resides at the 1,300.00 level
where a break will aim at the 1,310.00 level. A turn above there will
expose the 1,320.00 level. Further out, resistance stands at the
1,330.00 level. All in all, GOLD looks to weaken further.