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The precious metal has consolidated around the 1725 level over the past few daily sessions.

This sideways consolidation is likely to suggest that we could see a breakout move in the making.

But the bias remains mixed as prices could move in either direction.

However, gold prices need to contend with the upper resistance level of 1747, while to the downside, the minor support at 1700 will be key.

Only a breakout from either of these levels will confirm a move to the upside or down.

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