Spot Gold Forecast: There is a lack of clear direction for gold, “The price is declining, as indicated by the two converging trend lines. Crisscross moves around the 50-DMA indicate a lack of clear direction.”
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“The upper part of the range since mid-December around $2662 is the first hurdle. If it is crossed, a return towards last month’s high of $2718 cannot be ruled out. The recent pivot low of $2600 is crucial support in the near term.”
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