Furthermore, we also have central banks in places like Indonesia, India, China, and Russia, all buying gold. So that puts a little bit of a boost into it. Short-term pull banks at this point in time, I think continue to offer buying opportunities. Think also the market is likely to continue to see plenty of buyers at the $2,600 level, assuming we even dropped that far.
If we break above the top of the candlestick for the week, that would obviously be very bullish. And it is probably worth noting that previously we have formed a bullish flag on the daily chart and the measured move is anticipated to be to the $2,800 level. I believe the gold will go looking to the $3,000 level eventually, but it won’t get there in a straight line. So, I look at and quite frankly welcome any pullback as an opportunity.
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