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GOLD: mid day update

10/17/2011

12:21EST

Gold:

Risk aversion is now off

The immediate move should be down to 1661.00 (min.) but it’s the wild card (risk aversion) in the event risk aversion fails to come into play we should see 1651.70 to 1640.40.

1672.60/1673.00 is pivotal resistance for 1651.70 (down extension) to 1640.40