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Gold reached exactly into our 1,500-1570 target, which we discussed here during the past months. We are turning bearish on gold as technical and behavioral evidence signals headwind. The precious metal is likely to correct during the next few months.
Gold traded into our target. That's it with the good news, which allowed us to catch some great trades over the past year. The bad news is that gold is likely to correct going forward. We arrive at this conclusion from our analysis of investor behavior and chart patterns.