Gold hits $3,000 for the first time ...Middle East

The key question now is, can it stay there? It's a major psychological level and profit-taking in these kinds of situations are commonplace.

I reckon it's all about reading the price action here now. We're seeing buyers just slowly test waters above $3,000 in the first 1-2 minutes and that might be encouraging for a bit more of a push higher before the actual profit-taking comes in.

This article was written by Justin Low at www.forexlive.com.

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