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Price of Gold Fundamental Weekly Forecast – Gold Bull Conviction Will Be Tested at $1533.20 to $1514.30

FX Empire - Gold futures finished marginally higher last week and in the lower end of its weekly range after hitting a more than seven year high earlier in week. The two-sided price action was event driven. The rally was tied to an escalation of tensions between the United States and Iran early in the week. The sell-off was fueled by profit-taking after those same tensions were dampened by rhetoric from officials from the two countries.

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