From a technical perspective, the overnight sustained close above the 50-day SMA could be seen as a fresh trigger for bullish traders. This, along with the fact that oscillators on the daily chart have again started gaining positive traction, supports prospects for a further appreciating move. Hence, a subsequent move towards testing the next relevant hurdle, near the $2,378-2380 region, looks like a distinct possibility. The Gold price could eventually aim to reclaim the $2,400 round-figure mark.
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