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Gold looses a bit more ground

Since the last update here, gold has fallen back further below the $2,350 mark closer just now to $2,340. That means it has dropped closer to the 21 day moving average, which it busted above last week. That is just north of $2,337 and may yet provide support, if this downside move extends any further. We shall have to see on that though. The lack of traction so far today seems a little odd too, given that US yields are actually a little lower right now. The low seen a moment ago was set at $2,339.30. It is currently trading at $2,340.75
 

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