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Gold Prices Steady Above The 1800 Handle

Jul 14 2020, 07:50 PM (BDT) |

The precious metal is trading comfortably above the 1800 level on Monday. Price action briefly dipped to the psychological round number level to establish support.

However, we see a lower high forming near the top. If gold prices fail to make any further gains, we could expect to see a short term correction.

Price action will no doubt test the 1800 level once again. But if gold prices lose this handle, then we expect prices to correct toward the 1779 – 1780 region where the next major support level exists.

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