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Gold loses shine ahead of Fed

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    As the US dollar strengthened and global stock markets continued to stay supported on Monday, the price of gold resumed its sharp retreat from last week’s one-year high around the $1280 resistance level. Since mid-December, when gold rebounded with a clear double-bottom pattern off a new multi-year low around $1050, the precious metal has been rising swiftly in price for nearly the past three months. The latest culmination of this climb occurred within the past two weeks after price broke out

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