The precious metal is seen recovering from the losses from Wednesday. After losing the 1850 handle, gold prices are back above this level once again.
However, the pace of the rebound remains weak and we could see price losing the 1850 handle once again.
In the medium term, gold prices are firmly above the 1817.79 level of support. As long as this support holds, we expect the precious metal to possibly rise toward the 1874 handle.
But in the near term, we could see price action consolidating around the 1850 level for a while.
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