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Gold Price Talking Points:

Gold Prices Recovery After Early-November Spill

Gold prices have displayed a tone of recovery over the past week after starting November on a very sour note. As risk rallies were showing across a number of global markets, the fear bid left Gold, at least temporarily, as prices dropped down to fresh three-month-lows, eventually finding support at the 38.2% Fibonacci retracement of the summer breakout.

Gold Daily Price Chart: Three-Month-Lows at 38.2% Fibonacci Retracement

gold daily price chart

Chart prepared by James Stanley[9]; Gold on Tradingview[10]

Adding some additional context into the matter and a couple of zones discussed in these Gold technical pieces[11] have recently come into play to help guide that move.

Around support has been a zone that runs from the July swing-high of 1453 up to the October swing-low around 1460. Given that there were no daily closes below this zone and merely an interaction followed by a bullish bounce, that

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