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Gold Analysis Today 14/01: Gold Prices Hold Strong (Chart)
(MENAFN- Daily Forex)
- Despite the gains of the US dollar and hovering near its highest in more than two years, the demand for buying gold bullion as a safe haven is still increasing, which ensures that prices remain high.
- Yesterday, gold prices jumped to the resistance level of $ 2694 per ounce.
- We had previously recommended selling gold near that peak, and the price retreated to a support level of $2657 per ounce due to profit-taking before stabilizing around $2668 at the time of writing this analysis.
- Investors and financial markets are cautiously awaiting the release of US inflation data, which will have a direct and significant impact on the future of US monetary policy.

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