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Gold bears take charge again
Gold is under fresh pressure this morning, as the brief bounce from the end of last week fizzles out. It is still, for now, holding support around $1205, but a close below this targets $1195 and then $1180.
Having spent the week holding $1205, a break of this support would likely lead to a swift drop. A recovery above $1220 would signal some near-term strength, but as was the case last week a close above $1236 is needed to create a new higher high.
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