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Metals: US Jobless Claims & Euro. Central Bank Monetary Policy Decision

When we look at the gold market, it's up about 1.38%. Now you can see how the market is sat here and obviously, you can see it didn't really go down all that much. When you look at a closing chart, [gold] did come down here from the $2475 level into a $100-an-ounce break.

It got into the $2340s and it's just sort of sitting here right now trying to figure out the next move. In order to say the market is out of the downtrend, it's got to take the swing line high out here. It's not far from another $10. Probably does the job in the marketplace but that brings it then up to $2387. That's why I said about $10 which is the 18-day average of closes and that's where your battleground is because the attack of it now is going to be the question:

Can you get up and stay over it? Or does it get to get there and find another brick wall waiting for it? That'll be what we all have to look at.

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