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Gold Analysis: XAU/USD: Correction to fade as rally towards $ 1170 set to resume

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 13, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The XAU/USD pair (gold prices in terms of the US dollar) rose sharply on Monday, although fell a whisker short of August 24 highs. The prices clinched fresh seven-week highs at 1169.11 levels after the gold bulls cheered the increased talks of Fed’s inaction until March 2016. Moreover, the US dollar continued its sell-off following the dovish Fed minutes while markets flocked to safety ahead of the series of key China macro releases due for release later this week ahead. As anticipated, the

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