XAUUSD resumes modest rally

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Gold prices are posting a strong rally as price is up close to 1.10% intraday.

Price action is now trading close to the previous highs that are formed.

A breakout above 1738.50 could potentially confirm further upside.

But failure to breakout could see XAUUSD trading flat within the levels of 1738.50 and 1712.50.

Alternatively, a close below 1712.50 could see XAUUSD pushing lower to the next level of 1671.95.

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