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Potential short-term bottom identified by a two-day candlestick pattern

Potential short-term bottom identified by a two-day candlestick pattern While it is a little too early to say that the price correction in gold which began on the 23rd of last month is over, the first signs of a potential bottom have appeared today. Gold pricing did recover this morning, however at the same time, gold traded to the lowest intraday price of $1676 since the intraday low of $1666.50 seen on April 21st. If this low achieved today holds…

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Gold solidly down Thursday following sell off in US equities

Gold solidly down Thursday, following sell off in U.S. equities Gold prices are posting solid losses in midday U.S. trading Thursday and were near daily lows, following the U.S. stock indexes lower as they also extended daily losses. Bullish outside markets today–a lower U.S. dollar index and sharply higher crude oil prices—offered no support to the precious metals. Some more profit taking in gold and silver from the shorter-term futures traders is featured today. June gold futures were last down…

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