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Friday, February 22, 2013

USD and Gold

Gold ETF GLD dropped to its major support since Dec 2011 at around 152 this week. A break down below this level could lead further sell off on GLD.

On the other hand, the USD index is bullish recently, it closed at 81.5 last night, major resistance is the downtrend line at around 82.5.

Normally, a rising dollar would give downside pressure to stock market.

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