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Technicals: Gold prices are testing $1,300 at the time of writing this report. Investors should stand aside until prices are able to break above this level in a convincing fashion. Strength in prices on 8 March can be attributed to the European Central Bank’s (ECB) renewed dovish tone and a weaker than expected February U.S. jobs report. While the ECB’s dovish tone highlights weakness in the European economy, it also results in a weaker euro versus U.S. dollar, which would act as a headwind for gold prices. While hiring slowed in the U.S. during February the labor market remains strong, with a monthly average 186,000 jobs added between December and February a very healthy figure for the current stage in the economic cycle.