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Monday, May 21, 2018

New Analysis: Gold prices hit five-month lows on Monday

📊 Gold prices hit five-month lows on Monday, as the bearish pressure on the safe haven metal has intensified after the reports that US and China decided to put the trade war “on hold”.

Gold will likely continue to suffer losses in the coming weeks before it finds a bottom. On the way south, the price may challenge the $1,250 level in the medium term, after a break below $1,280. The fact that the metal is trading below the psychological $1,300 figure and the 200-DMA around $1,306.50 confirms the bearish scenario.

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