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Gold – Gold pulling back to support levels, looking to buy
As we have discussed in our recent Gold commentaries, prices have been buoyant following a recent bottom that was carved in down near $1180.00 recently. Price has since reclaimed $1200.00 and $1220.00, both of which have now flipped from resistance to support levels. Our recent views of looking to buy this market on pullbacks to support remain; we see the potential for prices to re-test $1250.00 area in the coming days and possibly $1300.00 in the weeks ahead. Whilst above the recent lows at $1180.00, traders can look to buy weakness; watch the relevant support areas near $1220.00, $1200.00 and $1180.00 for buying opportunities as this market retraces.
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