The gold price looks to be consolidating on the hourly chart

(Kitco News) – After starting the EU session on a positive note gold has pulled back during the session. The yellow metal is still trading at a relatively high level at $1880.4/oz and remains up for the day. The price is in a full consolidation phase at the current level and the resistance at $1891.3/oz looks firm from an intraday standpoint.

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