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Gold: Continues to Shine

From dailyforex.com

Gold has shot higher during the trading session on Thursday, as the Swiss National Bank has cut rates. This was in contrast of the Bank of England which stood still but is likely to join sooner or later. Ultimately central banks around the world cutting rates will continue to help gold, and that should drive gold at least in the short term to the upside and perhaps to the top of the overall consolidation range that we have been in for some time.The $2,400 level is an area that previously has been resistance. So, if we can break above there, then it's possible that we could go looking to the $2,450 level. Find Value ... (full story)

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  • Category: Technical Analysis