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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Technical analysis: key levels for gold

Gold continues its ascent, following a deep intraday retracement. This points towards further upside to come.

Gold
Source: Bloomberg

Gold continues to gain ground

Gold is moving higher yet again following a deep retracement yesterday. The fact that yesterday’s retracement didn’t fall below $1262 was key to continuing this bullish uptrend, and as such, further gains seem likely.

Should the price break above $1269, then any pullback would have to break below $1265 to negate the uptrend. For now, pullbacks are there to be bought into, rather than being indicative of a reversal. However, if the price does break the most recent swing low, then this would be a more worrying signal.

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