Gold and Gemstone Mining Inc (GGSM)

[CMsixfigures]

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Gold prices edged higher and have retraced the recent breakout, moving back down to the 1,313 level, waiting for an impetus to drive prices. Geopolitics does not seem to be pushing gold higher anymore, as the combination of North Korean missiles and terrorist attacks in London has failed to buoy the yellow metal. Support is seen near the August 30 lows at 1,300, while resistance on gold is seen near the 10-day moving average at 1,326.