Gold futures, which fell into a bear market this month, are poised for more declines and may plunge to the lowest since September 2010, according to technical analysis by Fain Shaffer of Infinity Trading.
Prices may drop 11 percent to $1,300 an ounce after the metal has been unable to close above its 20-day moving average, said Shaffer, the president at Infinity Trading. Gold futures for June delivery slid 0.6 percent to settle at $1,453.60 on April 26. The 20-day moving average is about $1,480.
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