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Gold fall brings support levels closer into view

Following on from the previous update, noting the move above 143 in the USD/JPY this afternoon, this has forced gold prices lower. The higher US treasury yields has been integral to that fall too. So, Gold has dropped back below $2,050 and in the process probably tripped some stops too. The earlier update here this morning noted the 2,050-2,070 range for the time being. Well, that is clearly not the case now and gold has fallen to a session low so far at $2,041.50. That drop beings the price closer to the first support of any particular note, at 2,034.60. That is the current price point of the 21 day moving average and Gold has not traded below this since before the Christmas break, on December 18 to be exact. Gold is currently trading not much above the current session low, right now at $2,042.60
 

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