Industrial Bank Investment Bank expects that COMEX gold futures may attempt to break through the $4,400 resistance level again next week.
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RHB Investment Bank Bhd reported that as investors position themselves ahead of the release of key US economic data, COMEX gold futures may once again attempt to break through the resistance level of $4,400 per ounce next week. If a breakout occurs, gold prices may continue their bullish trajectory and move towards the next resistance at $4,500. If selling pressure increases, prices may fall back to the 20-day simple moving average. The bank currently maintains a positive trading outlook.
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