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Technical Analysis of Gold

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Technical Analysis of Gold
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Gold prices have risen strongly during the recent trading sessions due to negative inflation data on the US dollar yesterday. Currently, if the price remains above the upper boundary of the descending price channel at around 1950 and holds above it, there will be a strong buying opportunity with targets reaching 1985 as the first target. However, if the price declines and breaks below these levels, selling would be more likely.