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SINGAPORE: Spot gold has turned neutral as the sharp rise from $1,626.34 per ounce on Tuesday has violated a short-term downtrend.
The downtrend descended from the Monday high of $1,694.60 and has adopted an "a-b-c" corrective wave mode, neutralizing the signals and indicating the downtrend may resume or be completely reversed.
A fall below $1,651 will extend to $1,637.
No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.
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