GOLD: Loses Upside Momentum, Sells Off

While Gold still retains its long term upside bias, in the immediate term the commodity faces bear threats. This is coming on the back of a loss of upside momentum at the 1,576.20 level during the Monday trading session. This development now leaves its psycho level at 1,500 level as the likely corrective weakness target where we may see a halt in declines. This should turn the commodity back up

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