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Gold massacre: Gold down $60

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Gold ( IAU , quote ) is off almost $60 from Fridays 5% move on the low here.

Gold found support at $1425 which is your major level of support and was resistance in 2010 and in 1Q 2011. Deflation, deflation, deflation -- which means watch oil. The commodity is down 1.6%, after the bloodbath on Thursday and Friday. It needs to hold $87. Bizarrely, stocks seem unfazed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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