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Gold rallying again
New yearly highs in gold underscore the strength of this rally. Overbought intraday conditions and a looming weekend should cause bulls to stay their hand, but for the time being, dips should continue to be bought.
The previous resistance at $1245 could be a first area of support if the price falters today, with a bigger drop potentially testing $1230. Upside targets now lie at $1256 and $1274.