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Gold near all-time high; what's next?
Gold bulls staged a comeback with a bang, driving the price vertically as high as 2,141 on Tuesday. This is marginally below December’s record high of 2,144 and could induce some consolidation ahead of Powell’s testimony before Congress and Friday’s US jobs data. In the meantime, the precious metal is looking for another upturn in the four-hour chart after posting a small doji candlestick around 2,125. The technical indicators are not promising at the moment, as the MACD seems to have entered a new negative phase and the stochastic oscillator continues to trend to the downside. Moreover, the RSI keeps moving ... (full story)