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Gold Market News

The gold markets initially fell during the day on Wednesday, but found enough support near the 1150 level to turn things back around and form a rather positive looking candle. The 1170 level above will be resistive though, so we look at short-term pullbacks as potential buying opportunities or a move above the 1170 handle. In the meantime, the market looks as if it is going to continue to be volatile though, so quite frankly unless you have the ability to hang onto the trade, you probably shouldn’t be involved at this point in time.

Gold Chart

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