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Gold Price Forecast: May Low on the Radar Amid Negative RSI Slope

From dailyfx.com

The price of gold continues to pull back from the yearly high ($1765) following the failed attempt to test the 2012 high ($1796), and the precious metal may consolidate over the remainder of the month as Relative Strength Index (RSI)establishes a negative slope. The price of gold continues to give back the advance from the May low ($1670) even though Federal Reserve officials strike a mixed outlook for the US economy, but the weakness may end up being short lived as bullion has traded to fresh yearly highs during every single month so far in 2020. During an interview with Fox News, St. Louis Fed President James ... (full story)

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  • Category: Technical Analysis