Gold prices remain aimless

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The precious metal continues to trade flat.

However, prices in the safe-haven asset remain steady despite equity markets posting strong gains.

The risk-off sentiment has so far left gold prices untouched.

The support area near 1724.62 remains key for now. Even a breakdown below this level is unlikely to do much as we have seen prices reversing before testing the 1700 level.

Only a close below the previous lows might confirm the downside in gold toward the 1700 level of support. For now, we expect the sideways range to continue.

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