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Gold Prices Fall below 200-day Moving Average
Monday, 19 Dec 2011
The price of spot gold broke below its 200-day moving average for the first time since early 2009. The 200-day moving average is considered a significant technical indicator by chartists. There have been many who have called for an end to the long-term bullish trend only to have their claim rebuffed upon a renewal of USD weakness. While the short-term trend has stalled, any further bond buying from the Fed (QE3) will likely increase demand for gold while reducing demand for the USD.
