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Gold melting away as Fed hike expectations grow

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    How low can it go? There is still no end in sight for the falling prices of gold. The metal is now down for the fifth consecutive day after forming a key reversal pattern on Wednesday of last week on the back of a more hawkish than expected FOMC statement. The markets have since been pricing in a higher probability for a rate rise in December and the dollar has correspondingly gained ground. The US currency could sharply extend its gains if this week’s key data from the world’s largest economy

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