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Gold Price – Could be Basing for a Test of 1200

Gold Price – Could be Basing for a Test of 1200

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The most recent gold analysis remarked that “gold has dropped into the 1120s. If there is such a thing as support, then this is it. Failure to hold opens up 1062 (year open).” Support held and focus is towards 1200-1210 (May 2016 low and 11/14 low).

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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