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Tuesday
Dec182012

Gold Testing 200-Day Moving Average

As equities surged today, gold sank.  Unfortunately for gold bulls, the metal closed below a support level that had formed from its early November low.  The metal did manage to hold support at its 200-day moving average, however.  A break below the 200-day in the coming days will not make for a good end to the year for those long the commodity.

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