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Gold Technical Analysis - Dec. 20 2012

GOLD: as we have been talking about, gold has been falling. The yellow metal has fallen through key supports at the 50% retracement level and at 61.8%. This is 1692.41 and 1677.84 respectively. We are now looking to test 1659.80. Below this level can test 1630.97.

Alternatively, 1677.84 is resistance with a break higher testing 1692.41.