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Gold Analysis: A break above $ 1245 needed for further upside

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) consolidated around 1220 levels almost through the European session on Tuesday, before a fresh bid-wave caught the bullion and pushed the rate as high as 1243.06 in the American session. The prices broke the consolidative mode to the upside after Fed Chair Yellen delivered dovish comments on the monetary policy outlook. Yellen warned "caution in raising rates is especially warranted," while further added that "Fed has considerable scope for stimulus if

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