If the new record high of $2,510 is reclaimed on a sustained basis, the next relevant topside target is seen at the $2,550 level. Acceptance above the latter could challenge the $2,600 round level en route to the triangle target, measured at $2,660.
In light of the dovish Fed expectations, Gold price rallied to a fresh record high of $2,509 on Friday, further supported by rife tensions in the Middle East. An imminent Iranian attack on Israel loomed, as Hamas mulled over ceasefire talks with the latter.
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