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Spot Slippage Narrows Gap With Key Support

GOLD
  • Activity across spot gold picks up, tipping spot to new lows and through last Friday's post-payrolls low. Move here puts prices within range of next notable support at the 50-dma of $2,011.6.
  • This level held well and contained a pullback in prices back in mid-December, and a firm break below would be the first since September last year - a break that pre-saged a ~$100/oz slip.

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