Gold hits $2,518 before jobs and PMI numbers
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Gold renews bullish advance and hits $2518.
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ADP Non Farm Employment change suggests 144k jobs against previous 122k.
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Support seen at $2500-$2495.
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Break above $2518 opens the way to $2528-$2538.
Gold renews bullish attack reaching $2518 as $2490-$2495 attracted strong buying ahead of upcoming Initial Jobless Claims as well as Services and Manufacturing PMI during US session.
If bulls manage to break above $2518 hurdle, the upmove may quickly retest next resistance $2528 above which break above $2532 becomes easy, leading to a tad higher $2538
On the lower side, any dip correction towards value zone $2500-$2495 will attract buyers again.
Below this zone, some further retracement towards fair value gap at $2487-$2484 may not be ruled out.
Given the prevailing circumstances and price action, buyers are likely to keep using any retracement and pullbacks for adding fresh longs.
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