The background noise of geopolitical tensions, rising oil prices and investor diversification will continue to provide good support in coming sessions.
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Gold has failed to match the lofty highs of 451.50 seen during Asian overnight trade, drifting back under the 450 level in European trade as players monitored the movements in the currencies.
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Short-term the outlook for gold remains mixed with traders closely monitoring the movements in the currencies and oil as well as the newswires, while concerns about inflation and geo-political uncertainties continue to support a more bullish mid to long-term view.
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