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Gold appears to have bottomed out
Gold has been moving higher in a convincing manner since falling into a trendline confluence at around $1267 last week. The subsequent move up has seen new higher highs formed, with the break through $1290.
We have since seen another higher created this morning, following a break above $1294. As such, further upside looks likely from here, as long as the price does not fall below $1284.