After having lost to the 1755 area, gold finally managed to pull back and closed in the area of 1767.
Today investors will concentrate on further monetary action from China. China's manufacturing activity contracted in this month. along with the strengthening of the USD after surprisingly Philladelpia FED data released and a declining unemployment rate, some market participants began to think that the economic recovery is imminent.
This has led some speculators to sell gold to take profit.
And the challenge for gold in order to climb higher again located in the area from 1777 to 1780.
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