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Gold Analysis: XAU/USD: Recovery likely to extend towards $ 1166, US Q3 GDP eyed

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The XAU/USD pair (gold prices in terms of the US dollar): As anticipated the yellow metal shot higher ahead of the FOMC decision beyond 1180 levels and reversed the entire spike and fell to fresh two-week lows of 1152.30 on the release of the much awaited Fed outcome. Pre-US open, the prices extended gains to fresh weekly highs of 1183.05 levels, despite a solid US goods trade balance reading. The deficit on trade with goods narrowed to $58.63 billion in September, which is much smaller than

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