As we can see from the chart above, gold is currently trading below its 10-month moving average. That is, the trend for precious metal can be predetermined as a downward trend, and investors who want to buy gold are well worth waiting for the metal to return above that average. And this is most likely to happen when gold rises above the psychological limit of $1,300 per ounce.
In other words, be patient and wait for a confirmation that the downward trend in gold is exhausted.
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