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Gold hits resistance
Gold rallied yesterday, taking the price back to resistance at $1264. So far this level continues to hold, so we are likely to see a retracement back to the current rising trendline, or even slightly lower.
A break above $1264 would likely trigger a wave of further buying, clearing the way to $1280 and higher. It needs a move back below $1245 to reverse the bullish outlook.
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