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Gold begins to rebound, but is the support sustainable?
After a short consolidation gold has picked up. However, is this a sustainable recovery? There is plenty of overhead supply to prevent the gold recovery from continuing. We still look to dollar moves to be the main driver of gold, so with broad market sentiment sitting at a crossroads, we see an uncertain near term outlook for gold. This is an uncertain time for gold. As the dollar has tailed off slightly, gold has picked up as the negative correlation between the two remains strong. We have been positioned for a near term USD rally/gold correction before both these trends eventually turn around for medium term USD ... (full story)