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Gold homing in on the next resistance level

Gold has not traded above its 100 day moving average since breaking below it on July 31. Granted it is now back above its 50 day moving average once more, having recovered that a little earlier this morning. That is in place at 1,932.13. The price remains established well above its 200 day of course now too and that has continued to guard the downside, now at 1,923.47. The 100 day moving average looks like it could be the next potential target on the radar for gold now and that is in place today at 1,945.65. The high seen so far this morning has recently been set at 1,935.21. It is just now at 1,934.75

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