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Gold Analysis: XAU/USD downside opening up towards $ 1200?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    XAU/USD (gold price in terms of USD) ended last week down -2.60% and gave up nearly $ 60 from yearly tops reached earlier this month above $ 1280, after a string of hawkish comments from Fed official pointed towards a Fed rate hike as early as next month. Hence, growing Fed rate hike expectations in the upcoming months (April & June) boosted the rally in the greenback against a basket of currencies at the expense of the non-interest bearing gold. Gold prices witnessed the sharpest weekly

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