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Gold Analysis: A retest of $ 1260 likely on US durable goods data?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) traded volatile on Wednesday, rallying to fresh more than one-week highs at 1253.32 after the new home sales data from the US disappointed markets and added to the dwindling bets of Fed rate hikes this year. The new home sales unexpectedly dived 9.2% to 494,000 in Jan, against a 4.4% drop to 520,000 expected. However, the spike above 1250 levels was quickly faded and the prices dropped to 1226 in the overnight trades, before recovering some ground and

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