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Gold price action (a daily chart of which is shown) as of Friday (7/23/2010), continues to hover just above a long-term uptrend support line that extends at least all the way back to the October 2008 low. This occurs after price pulled back to the trendline on Monday and has adhered to its dynamic support since then. For more spot gold technical analysis, please click here.

James Chen, CTA, CMT