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Gold Analysis Today 29/01: Gold Eyes $2,800 (Chart)
(MENAFN- Daily Forex)
- Gold prices have quickly recovered from the profit-taking sell-off that occurred at the beginning of this week, which pushed prices down towards the support level of $2731 per ounce.
- Spot gold prices have returned to their broader upward trajectory, gaining to the resistance level of $2766 per ounce and stabilizing around this level at the time of writing this analysis.
- Currently, the performance awaits the reaction of markets and investors to the US Federal Reserve's announcement today, which in turn affects the price of the US dollar and thus gold prices.

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