The gold markets rose over $50 yet again on Thursday as traders bought the metal in the $1,800 support zone. The market is bullish overall, but the recent action has been painfully choppy. The weakening conditions in places like the EU and the US, gold continues to have a bid underneath it. The market is a buy only situation, but it should be noted there is a double top that has just formed. If that area gives way, around the $1,920 area – this market goes much, much higher. The pullbacks are to be bought, but the $1,900 area should be known as significant resistance.
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