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Gold continues to grind higher
Gold has been gradually gaining ground over recent trading days, with the price moving back into a resistance zone of $1357-$1366. There is a strong chance we will see a retracement come into play soon enough, with trendline support worth watching as a potential buying opportunity.
Given the wider trend of higher highs and higher lows, there is a potential that we are seeing the end of this multi-month period of consolidation. A break through $1366 would be required to signal such a breakout. In the meantime, further gains are likely to come into play, with a drop below $1337 required to negate this bullish outlook.