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Gold is experiencing trough levels on global markets after Janet Yellen's speech. Yellen's speech was published today, which will appear before the Economy Committee at the US Congress. There were similar sentiments for the November Fed meeting decision text. Yellen's defense will be important to in front of the congress this evening. In recent days, Gold market is following a horizontal trend between 1210 and 1230 USD price levels. Gold assets in gold-backed ETFs dropped to 1.949 tons on Wednesday. On the other hand, exchange traded funds based on gold have bottomed out at the time of Gold's down to 1211 USD, after which we see that they are trying to find support. For this reason, Gold is following 1211 USD level today.

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