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Spot Gold Falls Dramatically Lower

The Spot Gold market sold-off in an aggressive manner today as the downtrend continued and price easily broke through support near $1,320.00. The market has been weakening for some time recently and we've been discussing the possibility for a large sell-off like this in our members' community and in recent commentaries following the fakey signal that formed back on June 7th. From here, traders can watch for price action sell signals from resistance to rejoin the downtrend on any retraces back to resistance.