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Gold Analysis: Could break above $ 1280 amid dwindling Fed rate hike bets

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold price in terms of USD) surged to near thirteen-month high at 1273.20 on Monday, bolstered by a weaker greenback after the US labour market conditions report displayed the worst result since 2009. The Labor Market Conditions Index (LMCI) fell to -2.4 points in February, in contrast to a reading of 1 point expected, and following a downwardly revised -0.8 points in January. Monday’s jobs data added to the recent streak of poor US fundamentals and poured cold water on the Fed rate

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