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Gold finds a top above $2,018 again for the time being

Yesterday Gold reached a high of $2,018.21, as was covered in morning updates here. The drop back from that high did eventually surpass the breakout level seen earlier in the session, at 2,009.41. The fall through that level delivered a move to a low at 2,005.80, just after the 4pm London FX fix and that move seemed sparked by intraday stops. Once those were removed, the metal then lifted into the US close, where it later ended the session at 2,014.13. Earlier today gold attempted a break above the high seen yesterday, but so far it has stalled at 2,018.09 and backed off slightly. The price action since has been sideways in between 2,013 and 2,017. Gold is currently trading at $2,016.15
 

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