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Gold Reaction After PPI News
Aug 15 at 11:07
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Aug 15 at 11:07
Current Price*: Gold is trading around $3,347.17 per ounce, with a slight decrease of 0.25% in the last 24 hours.
- *Market Trend*: Gold buyers are fighting for control, aiming to extend the break above the $3,350 psychological barrier. The Relative Strength Index (RSI) remains above the midline, indicating a bullish lean.
- *Resistance Levels*: Buyers need to crack the static resistance near $3,380 to unleash additional upside, with potential targets at $3,400 and $3,440.
- *Support Levels*: Immediate support lies at the 50-day Simple Moving Average (SMA) at $3,350, followed by the 100-day SMA at $3,302.
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