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The precious metal surged ahead as it hit a new all-time high record. Gold prices rose to intraday highs of 1945.52 as it continues its bullish momentum.

The gains come amid fears of economic recovery as well as more stimulus packages around the world.

In terms of a technical support, given the sharp gains, there are none. Therefore, price action is likely to carve out some form of support near the current levels.

For the moment, the only key level is seen at the 1850 handle.

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