(Kitco News) – Although gold is showing some resilience by holding strong support at its 200-day moving average, its downside potential could be tested next week as the market faces major hurdles, including a Federal Reserve monetary policy meeting and employment numbers.
The gold market is preparing to close in negative territory for the first time in five weeks. June Comex gold futures last traded at $1,268.70 an ounce, down 1.6% compared to last Friday’s settlement
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