Gold bounces as expected

On Thursday, gold, silver and platinum were hit with some heavy selling and a reversal. They were all hit after rallying early and when the day was over, it was an ugly day. All three came down to support, but buyers are stepping in this morning.

Gold was hit the hardest and was in danger of setting up a reversal pattern. However, the underlying strength held the yellow metal, and the reversal turned out to be a pullback in an uptrend.

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