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Metals Stocks: Gold struggles as it aims for 6th-straight advance

Gold futures switched between small gains and losses, trying for a sixth-straight advance on Thursday and clinging to their highest level in about 13 weeks as renewed dollar strength limited the precious metal’s run.

April gold GCJ7, +0.15% trading near break-even levels, stood near its Wednesday settlement at $1,239.50 an ounce—the highest finish since Nov. 10, according to FactSet data.

With the fundamental picture little-changed and a gold rally showing some signs of short-term fatigue, analysts are focusing on technical levels.

“We focus on $1251 as a major resistance area, as it is the 50% retracement level from summer 2016 highs to the recent low at $1124,” said Jason Rotman, principal at Lido Isle Advisors, in a note.

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