Physical good buying interest remains strong

















For gold, physical buying interest remains strong, but buying interest now seems closer to the $1,094/95 level. Buying backs off as soon as the price approaches $1,110. We still sees an increased risk of a deeper correction in the gold price.

A break below the $1,095/96 level may see gold approach $1,089/86. Thereafter, the 200-day moving average at $1,049 could be the next major support. Resistance is at $1,109 and $1,116. Long gold in euro still looks good.

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