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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Daily analysis of Gold for December 16, 2016

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Overview

Gold has been trading with an upward bias since morning to move away from $1,124.88, which supports our bullish trend expectations in the short term. The metal is heading for the upward targets like $1,154.75 and later $1,172.68. Therefore, we are waiting for more bullish bias today on the assumption of the price stability above $1,124.88. Breaking this level will bring in negativity that will push the price down to $1,047.61 as a next main station. The expected trading range for today is between 1120.00 support and 1154.75 resistance.

The material has been provided by InstaForex Company - www.instaforex.com