Gold – Could rise 50-DMA, if 5-DMA support holds

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold’s rebound from $1302 (Thursday’s low) followed by a sharp move higher to $1330.20 post US data release suggests a short-term bottom is in place. The metal thus appears on track to test 50-DMA level of $1336 unless the 5-DMA support is breached on daily closing basis, in which case a revisit to $1302 is likely.
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