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Amongst concerns TD ennumerate on gold are:
TD says a “a liquidity vacuum could ensue with fewer buyers to offset potential liquidations”.
As for levels TD says gold is vulnerable to a break south of US$2380/oz.
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As for that ‘buyers strike’ I noted in June the PBOC bought no gold in May. And that this continued for a second consecutive month.
The absence of an underlying bid like this is a concern for gold bugs.
This article was written by Eamonn Sheridan at www.forexlive.com.
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