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Gold reaches $2,400 for the first time ever

The further gains in Gold have now seen the metal trade above $2,400 for the first time ever. This is the first of upside targets outlined by some leading analysts as being reached in 2024. The other, beyond that is at $2,500. It was noted here earlier this week; that at the current run rate, the metal is going to reach either of those targets long before we get to the end of the year. Well, as you can see right now, gold has hit the first one and that looks like it might provide some immediate resistance and not least a level at which a degree of profit-taking might kick in. We shall just have to see on that, remembering that the metal is technical overbought too. Gold has just hit a new record at  $2,400.67. It is currently trading at $2,399.25 

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