As the problems in Europe continue to mount investors have once again turned to gold for protection. That demand pushed the gold price in Euros as high as €1375 this morning before settling back to €1350.

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In £ terms gold is holding steady around the £1160 level – still £35 above the 20DMA.

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In $ terms the gold price has come under some pressure retreating as far $1825 – which is right about the 20DMA – where decent support has been found in recent months.

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All eyes will be back on Europe again this week it seems as all those same problems (French banks, Greek bankruptcy, Italian/Spanish bonds) from the summer that were never really fixed are coming right back to the front on the news cycle.