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Gold back above $3k this morning
Yesterday afternoon as the US stock markets opened lower and fell hard, Gold tried to push higher. However, any rebound seen stalled ahead of $3,050 and the metal fell back again. That fall later saw it take out the prior low at $2,971.30 and it fell to set a fresh interim low, at $2,956.70. Gold later closed in the US at $2,983.28. The price action seen once again seemed to get caught in between the wider risk dynamic and the need to bank gains in order to cover stock losses. Today gold has managed to edge higher and that has seen it lift back above $3k. The high seen not long ago has been set at $3,005.29. The broader range right now would seem to rest with $2,950 and $3,050 for the time being. So, as you can see, it is very much in the middle of that just now this morning. Gold is currently trading at $3,002.70
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