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Gold: General Trend Still Bearish

From dailyforex.com

Investors abandoning the dollar was an opportunity for the price of gold to move higher, but its gains did not exceed the resistance level of $1745, where it is stable as of this writing. Demand for safe-haven assets increased amid a weak dollar and falling bond yields. The US dollar hit its lowest level in nearly two weeks as growing optimism about economic growth weakened demand for the currency. Yesterday, gold futures ended up $14.20, the highest settlement in more than five weeks. In the same performance, silver futures contracts ended higher at $25.227 an ounce, while copper futures settled at $4.1165 a pound. ... (full story)

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  • Category: Technical Analysis