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GOLD: Weakens On Bear Pressure, Risk Builds On The 1,532.90 Level.
GOLD: Having broken and held below its key support at the 1,666.90 level, its Nov 21’2011 low, Gold faces the risk of further bearish momentum in the days ahead. This is coming on the back of a loss of upside momentum at the 1,802.75 level and its subsequent weakness. On continued declines, the commodity will aim at the 1,532.90 level, its Sept 26’2011 low where a respite may occur and turn it back up. However, if this fails, further weakness should develop towards its psycho level at 1,500.00 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Alternatively, to annul its present ... (full story)