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Daily GOLD Forecast – 16.5.2023

Suggests a demand for the development of a price correction and a test of the support area near the level of 2005. Further, the continuation of the growth of the non-ferrous metal quotations with the goal of higher than the level of 2065. The cancellation of the option of an increase in the price of Gold will result in a fall in the value of the asset in the markets and a breakdown of the level of 1990. This will indicate a continuation of the fall in the price of gold with a potential goal below the level of 1965.