Gold Analysis: Downside looks capped by $ 1230, awaits US data

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 1, 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) kicked-off the week on a bullish note, resuming its recent winning-streak after a temporary reversal seen on Friday. The prices rebounded sharply from the US Q4 GDP induced sharp losses and rose as high as 1241.77 after another round of easing by the Chinese central bank in a bid to spur growth in the world’s top gold consumer. The PBOC slashed the RRR by 0.50%, effective March 1. In addition, the prevalent risk-off sentiment amid falling global equities

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