Gold Analysis: Downside favoured as USD rebounds, eyes $ 1073

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    XAU/USD (gold prices in terms of the US dollar) staged a solid comeback extended over the last two trading session and bounced-off fresh multi-year lows struck at 1063.20. On Thursday, the prices witnessed heavy gains and rose to as high as 1087.51 levels on the back a technical correction seen in the greenback after last week’s extensive rally backed by increased Fed rate hike bets. The renewed signs of life in gold prices were triggered following the release of FOMC minutes on late

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