Gold Bulls Likely to Return on Price Dips: Technical Analysis
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Gold will probably attract buyers on declines toward $1,325 an ounce with the medium-term bull trend targeting a record $1,460 to $1,500 an ounce, according to technical analysis from Barclays Capital.
“Failure to hold above support in the $1,390 area was not unexpected,” according to a report from analysts including Phil Roberts. “We would look to buy any dips toward support in the $1,325 area. Our greater view remains bullish.”