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Gold prices are slightly bullish, rising over 1.50% on the day. Price action reclaimed the resistance level of 1594.

This puts the upside bias into the picture. In the event that prices pullback lower, then we expect the 1594 level to hold out as support.

To the upside, the next target is at 1655 handle. Alternately, if price fails at 1594, then we expect a move lower.

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