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GOLD: Not a safe haven anymore

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Since my previous update on Gold, as indicated in that post, the bears continue to hammer down the price of Gold. A further down-slide below the 1350 level confirms the bleak short-mid term outlook for gold as it heads to probably test the 1150 level. All EMA averages are pointing down and the 200 EMA will offer resistance. The gold miners index is also looking ugly. Overall, keep away from gold for now.

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