Gold prices updates for commodity market

Both the Weekly and Daily Charts are in downtrends. The Monthly Chart has a bearish bias due to the Swingline being in a downtrend, but prices on that chart remain over the 18-Month Moving Average of Closes, which comes in at 1580.9 and is where I thought major support in my last report would come in. That number could still be seen, but to do so means that on the Daily Chart gold would have to widen its current Bollinger Bands by breaking through the bottom band to force the band to move lower.

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