GOLD: Intraday Long Term Analysis & Forecast update

Gold prices extended their record rally on Monday, steered by speculative buying and persistent tensions in the Middle East, which overshadowed strong U.S. payrolls number last week.

Spot gold was up 0.3% at $2,335.73 per ounce, as of 0646 GMT, after hitting a record high of $2,353.79 earlier in the session. U.S. gold futures gained 0.4% to $2,354.50.

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