Kitco News) — Gold is currently trading right around its 50-day moving average of $1,518 an ounce, notes Mark Leibovit of VRTrader. Additional support is at last week’s low of $1,510.10. “If we break below that level, which I don’t expect but is always possible, the series of higher lows on the daily going back to January will be broken. However, looking at a weekly chart, even then we’ll still be in a uptrend going back to 2008,” he says.
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