Everybody Is Watching This Line In Gold Right Now

The story of the last week or so. The gold plunge. It dropped hard again today, providing no respite to those seeking out a safe-haven.

The line on everyone’s mind: The 200-day moving average, which is the red line in the chart here. It’s where gold sits right now, and you can be sure there will be a lot of attention paid to the next move up or down.

Those who don’t care about diagonal lines should feel free to not read all of the above.

chart

Photo: Stockcharts.com

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