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We used the proprietary Variable Changing Price Momentum Indicator (VC PMI) automated algorithm to analyze the weekly gold market.
Gold
Gold made a new high last week of $1,362.20, which was a 14-month high. It closed Friday at $1,345.30, up about $1.60 for the day. In taking a look at the VC PMI artificial intelligence for the coming week, the average price for gold was identified as $1,343. The sell 1 (S1) level is $1,363. If gold reaches that level, there is a 90% chance that gold will then again revert back to the mean