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Gold: Bouncing Around in Same Consolidation Area
The gold markets fell initially on Friday only to turn around and show signs of life. That being said, the market is going to continue to be noisy overall, as the gold market is being thrown around by the bond markets and interest rates coming out of the United States. Looking at this chart, the $1800 level is crucial, and an area where the market has been imported multiple times. If you were to break down below there, then I think the gold market has much further to go, perhaps opening up the possibility of a move to the $1750 level. You will notice that I have marked on the chart where we had a bit of a double ... (full story)