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Gold Price Futures (GC) Technical Analysis – Strengthens Over $1590.30, Weakens Under $1581.20

From fxempire.com

Gold futures are trading at their highest level since January 8, but the buying still looks a little tentative. Low liquidity due to a major holiday in Asia could be responsible for the limited move. The catalysts behind today’s rally are growing concerns that a China virus outbreak could impact that nation’s economy, prompting investors to shed riskier assets. At 11:30 GMT, April Comex gold is trading 1588.70, up $10.60 or +0.68%. The main trend is up according to the daily swing chart. A trade through $1619.60 will signal a resumption of the uptrend. A trade through $1542.80 will change the main trend to down. The ... (full story)

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