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Gold spot - short-term outlook

RECAP: "I still believe Gold will attack the 50% fibo at $947. At that point Gold may well pause or rebound a bit. The $943/7 level is an important line. In case this support fails gold could go down to the $930 area. But we have to see. $947 first."

 As suggested, Gold went down to a low of $943 so far but stabilized at $947 which was our target.

 OUTLOOK: After a short stabilization period, I personally think gold will go further down. Next target would be $937.