(24/7 Bull) The spot gold price fell to $1772 an ounce Wednesday morning in London, a few hours after hitting its highest level for nearly seven months after the Bank of Japan became the latest central bank to announce further quantitative easing measures.

“It seems that the stars are now aligned for gold to move higher,” says Anne-Laure Tremblay, analyst at BNP Paribas.

“The next hurdle to overcome will be the $1800 an ounce level, which we expect to be breached decisively in the fourth quarter.”

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