XAUUSD pulls back from 7-year highs

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Gold prices are pulling back right rising to fresh 7-year highs at 1747.00.

This comes following a gradual rally over the past few sessions.

In the short term, the 1700 level is likely to be tested for support.

But if prices slip below the 1700 level, then we expect a decline to the 1671.95 level.

For the moment, however, we expect a move further high if one of the support levels hold.

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