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Not a good look as gold falls through the post-Fed low

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Gold down $23 to $1755 on the day

Gold down $23 to $1755 on the day

Gold didn’t show the same kind of bounce as other asset classes since the Fed and that was a big red flag coming into the week. The narrowing range and series of doji stars set up a big move and today we got it with prices tumbling through the post-Fed low.

The break of $1760 is key for the remainder of the day and whether gold closes below it. For now, this doesn’t look good and paves the way for a re-test of $1680, which was the double bottom that gold catapulted from in April.

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