Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST)

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GOLD: Spot gold holds around $1292.00/oz, after trading in a $1287.80 to
$1306.87 range. The precious metal peaked at $1345.17 July 10, before falling to
$1292.26 July 15 on a wave of unwinds. Subsequently, gold had a push to $1324.70
last week on new safe-haven demand, but again the rally petered out and the
precious metal edged lower. Today's clear-cut break of the 100-day moving
average, around $1302, which was viewed as a pivot in recent sessions, allowed
for new stop-loss selling, with gold also breaking below the July 15 low near
$1292.26, albeit with little followthrough. The 200-day moving average,
currently at $1286.25, is the next downside target.