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Gold Slips Below Key 200-Day MA, Pops Right Back Above It

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - June gold futures prices Monday morning dipped below the technically important 200-day moving average for the first time since late-December, but then popped right back above it. This is one encouraging sign the recent selling pressure in the gold market could be ending. However, it will be important for June gold prices to hold above the 200-day moving average today. If such is the case, it would be one clue a near-term market bottom is in place. June gold was last down $8.20 at $1,315.10.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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