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Now more than 10% below its peak

GOLD
  • The yellow metal has continued its descent and is now at its lowest level since 22 July.
  • Gold is now around $220/oz lower than (over 10% lower) than the highs seen in August.
  • At writing gold stands around $1,856/oz and our technical analyst notes that the break lower signals the end of the period of consolidation that has dominated recent activity. Yesterday's key development was a break of key support at $1863.2, Aug 12 low. The breach confirms a stronger reversal and opens $1841.2 next, Jul 22 low.

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