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The precious metal is somewhat bullish as price action inches closer to the 1800 level.

Overall, the precious metal is making the best quarterly gains, last seen in March 2016. However, the current momentum remains somewhat weak.

While prices are settled into the uptrend price channel, there is a possibility of a downside breakout.

If gold breaks out from the rising wedge pattern, we could see a move back to the 1732.65 level of support.

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