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The four-hour chart on gold closed rather flat on Thursday. The metals market was closed on Friday for Good Friday.

Although price action closed above the level of 1671.95, we anticipate a possible pullback lower.

Watch for a close below 1671.95 to confirm the downside. The ascending wedge pattern could see a downside breakout.

The minimum target lower is at 1574.90. To the upside, gold prices are likely to continue toward the 1700 level.

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