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Gold Price Forecast: XAU/USD awaits PMI data inside bullish set-up near $1,800

From fxstreet.com

Gold (XAU/USD) edges higher around $1,808, up 0.07% intraday, while extending the bounce off a two-week low during Friday’s Asian session. Improving market sentiment seems to help the gold buyers to retake controls inside a bullish chart pattern, falling wedge, of late. Behind the moves could be the US policymakers concerning the US President Joe Biden’s infrastructure spending bill’s passage, despite being rejected for opening debate. On the same line was the relief to lawmakers offered by the US Congressional Budget Office (CBO) when it said, per Bloomberg, “US lawmakers likely have until October or November to ... (full story)

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  • Category: Technical Analysis