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Gold Prices Steady Above The 1800 Handle

The precious metal is trading comfortably above the 1800 level on Monday. Price action briefly dipped to the psychological round number level to establish support.

However, we see a lower high forming near the top. If gold prices fail to make any further gains, we could expect to see a short-term correction.

Price action will no doubt test the 1800 level once again. But if gold prices lose this handle, then we expect prices to correct toward the 1779 – 1780 region where the next major support level exists.

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