As you know gold dropped down through 1300 two weeks ago. That gave gold bulls a mild heart attack because the story for gold rising includes a little bit about “rising.” Not “falling.” A touch of a difference there. And 1300 is a key pivot point for gold; it can’t go up without staying above 1300. (just to drive the point home)
But the world is an ephemeral place, where most things don’t last forever. Sure enough, gold rose back up through 1300 in late afternoon New York trading as the US Dollar faded, and it’s up to 1305 after overnight international trading.
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