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Beware of Gold experiencing a drop due to profit taking before Trump's inauguration! FXStreet Senior Analyst's analysis of Gold Trading.
On Friday morning in the European market, spot Gold maintained a moderate downward trend, with the current price around 2710 USD/ounce. FXStreet Senior Analyst Dhwani Mehta pointed out that ahead of the inauguration of the elected President Trump of the USA next Monday, Gold faces the risk of profit-taking and decline.
Gold prices once approached the new Target Price! Well-known Institutions: Breaking this level could trigger gold prices to rise towards historical highs.
On Friday in the Asian market close, spot Gold slightly declined after a big rise yesterday, with the current gold price around 2713 dollars per ounce. According to Economies.com, the gold price had previously come very close to the new Target Price of 2725.00 dollars per ounce, and if this level is surpassed in the future, the gold price will aim for historical highs.
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