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Gold – Trades below monthly 50-MA

FX_IDC:XAUUSD   GOLD / US DOLLAR
Gold             ended August below monthly 50-MA after having failed to take out long-term falling trend line resistance.

Prices currently trade below monthly 50-MA and monthly 5-MA seen at $1312 and $1300 levels.

Congestion is likely as investors are seen sitting on the sidelines ahead of the August non-farm payrolls data due for release tomorrow.
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