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Gold Analysis: Could retest $ 1200 on dovish Yellen

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 10, 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) halted its corrective slide near $ 1185 region on Tuesday and resumed the bullish run towards 1200 barrier, only to find fresh offers at 1198.95 in the late US session and ended the day in the red at 1189.25. Gold’s rally lacked momentum as the US jobs openings bettered expectations, while markets remained on the back foot ahead of Fed Chair Yellen’s testimony on Wednesday and Thursday. While the downside remained capped on the back of growing Fed rate hike

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