Gold has bounced back strongly from six-week lows on global growth worries, forming a bullish hammer on the weekly chart.
As of writing, the yellow metal is trading at $1,300, representing 0.45 percent gain on a weekly basis.
A bounce from lows near $1,280 was overdue as technical charts were reporting bearish exhaustion in Asian session today and the case for a corrective rally to $1,300 was bolstered further by risk aversion.


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