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Gold unlocks another record high
Gold prices skyrocketed to another fresh high of 2,450 earlier in the day, currently holding above the previous peak of 2,431.48. This movement may be a sign of further increases during the next couple of days, with the technical oscillators suggesting more gains in the market. The MACD is strengthening its positive momentum above its trigger and zero lines, while the RSI is flirting with the 70 level, holding above the ascending trend line. In the positive scenario, traders might pay attention to the 261.8% Fibonacci extension level of the downward wave from 2,079 to 1,810 at 2,515. A bounce higher could take a ... (full story)