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The precious metal made up for the losses from Tuesday as price action settled back above the 1900 level once again.

The price area between 1911.50 and 1900 shows a strong pullback, putting price action moving in a sideways range.

However, the current pullback is showing signs of weakening.

Therefore, gold prices could be setting up for a potential move back lower.

A close below the current lows of 1882.27 will confirm further downside.

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