Gold entered a pullback phase after testing the 2790 peak. With the breakdown of the 2710 support level and confirmation of the downtrend, the price saw a decline down to the 2628 support level. Further pullbacks appear likely from this level. Buyers may step in and trigger a rebound around this area; however, a loss of the 2628 support level could open the door to new lows in gold. Specifically, the 2585-2527 range emerges as a key area for gradual buying opportunities in gold.
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