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Published On: Wed, Dec 3rd, 2014

Gold – Technical Analysis (03.12.2014)

We are favoring more upside, with next target for gold the $1240 resistance. Immediate support is spotted at the $1185-$1175 area.

Gold’s impressive rally on Monday signaled that at least a mid-term bottom had been reached at $1131. We are favoring more upside with next target for bullion, the $1240 resistance. Immediate support is spotted at the $1185-$1175 area. The latter should provide a reliable cap to any potential attempts on correction for gold.

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