Gold Prices Set to Close Flat Yet Again

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The precious metal is likely to close flat once again, marking a flat print for the second consecutive day.

Although prices rose higher intraday, the gains quickly disappeared. There is a possibility of prices forming a bearish flag pattern currently.

Therefore, if gold prices break down below the 1817.80 level of support, this view will be validated.

The bearish flat pattern potentially signals a stronger correction to the downside. This could push prices down to the November 30th lows near 1770.00.

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