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Goldplat plc

Gold Rises To Fresh Six-Year High

The precious metal was once again seen rallying as price touched a new six-year high briefly at 1426 an ounce. The gains came following reports of a lack of progress on the trade talks between the US and China. The US economic data on housing was also disappointing leading to a modest risk-on sentiment.

Gold prices edged higher, once again testing the previously established resistance levels near 1423. In the process, price action has formed an ascending triangle pattern. A breakout above the resistance could indicate further gains in the near term. 

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.