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Can Gold hold the support level?

Gold prices gave a gap down opening in the previous session and gave a close below its mentioned symmetrical triangle formation, drifting prices lower towards its immediate support level of 30,500 mark.

If gold manages to hold the mentioned support, we could see some pullback towards 30,800, while breach of 30,500 could drift prices towards 30,380 levels.

Silver prices gave a false break down of its symmetrical triangle formation and inched higher later in the session. Short covering is likely in silver as per open interest data.