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1300 USD is a great place for gold to correct too.

the turn will coincide with a reversal is gold lease rates. GOFO has been getting a hammering of ate (gold futures). Remember LIBOR remains low and will continue to remain low.
This time last year gold took a hammering as did GOFO. However GOFO this year remains significantly higher than the same time last year - which indicates to me that the market believes gold is still going to rise.

Its buy time over the next two to three weeks imo. Then a hold all the way into April.

GC