Gold traded at fresh 10-month low at 1151.00 as a stronger US Dollar and the prospects of higher US interest rates continues to pressure the yellow metal.
Since trading as high as $1335.00 on November 9th, Gold has lost close to $200.00 per ounce. And while technical indicators are showing oversold conditions on the daily charts, we still see scope to test the $1100.00 support level last seen in January.
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