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Gold Narrows Gap With Key Support

COMMODITIES
Gold traded lower again yesterday. Key support to watch lies at $1903.9, the Aug 25 low. A break of this level would be viewed as a bearish development and highlight the fact that the recovery between Aug 21 - Sep 1 has been a correction. The uptrend in WTI futures remains intact. The recent break of resistance at $84.16, the Aug 10 high, confirmed a resumption of the uptrend and this maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull mode position.
  • WTI Crude down $0.47 or -0.54% at $87.1
  • Natural Gas up $0 or +0.16% at $2.515
  • Gold spot up $2.93 or +0.15% at $1919.1
  • Copper down $2.2 or -0.58% at $376.3
  • Silver down $0.04 or -0.18% at $23.1165
  • Platinum down $4.46 or -0.49% at $909.58

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