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Gold flies to consecutive record highs
Gold has experienced a massive surge following its profound break above the 50-day simple moving average (SMA) in the beginning of March, generating a series of fresh record highs. However, an impending pullback could be on the cards as the short-term oscillators are flagging overbought signals. Should the rally persist, the price could resume its movement within uncharted waters, where the Fibonacci extensions of the 2,079-1,810 downtrend may provide potential upside hurdles. Hence, the bulls could initially attack the 178.6% Fibo of 2,290 ahead of the 200.0% Fibo of 2,347. Failing to halt there, bullion might ... (full story)