Analyst: Watch Whether Gold Can Hold the 3400 Level
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Trade Nation analyst David Morrison noted that after struggling for about six weeks, gold has steadily climbed above $3,400 per ounce, and whether it can hold this level before the weekend will be interesting to watch. It is also noteworthy that gold prices are rising even as the US dollar has surged significantly. This suggests that the negative correlation between these two assets is not as strong as traders previously believed.
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