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Gold dips but continues to outpace Dow
Yesterday’s spike in stocks meant the gap in performance since January between gold and indices has been narrowed somewhat, but the yellow metal is still outpacing the Dow Jones in gains for the year. A drop yesterday brought out fresh buyers, and the price is still solidly within the uptrend from the December lows.
As long as $1235 holds and the price bounces off the trendline then more gains are to be expected. Longer-term, the price must break the 200-day simple moving average at $1261.
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