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Gold Below 1300 and Silver Below 20
FOMC reaction: The market reacted to the FOMC’s brighter economic projection and therefore likelihood of tapering with USD-strength across the board. This was very apparent in gold and silver XAU/USD (gold in USD) fell sharply after the event risk, breaking below the previous 2013-low of 1321.53 and falling below the 1300 handle. The next level of significance to speak of is at 1265.10, a previous resistance pivot in June 2010. If there is a pullback, the previous support area between 1321.53 and 1337.87 could become resistance. New Low: Silver priced in USD, XAG/USD also fell sharply after the FOMC statement and ... (full story)
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- Jun 20, 2013 8:18am Jun 20, 2013 8:18am
- devang
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- albchr
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Ghost Rider - WWTBMD?
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- skenobi
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I'm not trying to convince anyone. I'm not in the "convincing" business.
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- John Gray
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Even the worst trade can close with profit. Just give it time.