Gold Prices Remain Aimless

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The precious metal continues to trade flat.

However, prices in the safe-haven asset remain steady despite equity markets posting strong gains.

The risk-off sentiment has so far left gold prices untouched.

The support area near 1724.62 remains key for now. Even a breakdown below this level is unlikely to do much as we have seen prices reversing before testing the 1700 level.

Only a close below the previous lows might confirm the downside in gold toward the 1700 level of support. For now, we expect the sideways range to continue.

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About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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