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  • Gold Price Forecast: XAU/USD advances towards $1,760 as Fed looks to halt bigger rate hike culture

    From fxstreet.com

    Gold price (XAU/USD) has attempted a recovery after declining to near $1,754.00 in the early Tokyo session. The precious metal remained sideways on Thursday due to less volume as United States markets were closed on account of Thanksgiving Day. Considering the optimism in the overall market, the gold price is expected to continue its upside journey toward the crucial hurdle of $1,760.00. The USD index (DXY) displayed back-and-forth moves below the round-level resistance of 106.00. The US Dollar is prone to test a three-month low at 105.34 as the Federal Reserve (Fed) is set to ditch the bigger rate hike culture in ... (full story)

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  • Nov 24, 2022 7:54pm Nov 24, 2022 7:54pm
  •  Guest
  • | IP XXX.XXX.145.181
So far Gold has moved up to circa 1760 and we can sense a rejection by that level in the ongoing (intraday action) pullback per the Tokyo run. Appears ANZ Bank has something going for its speculative take on Gold regardless of whether or not it is guessing the market correctly (and whether or not its thinking is rational at all). Of course the thanks giving break in the US leads to caution in making any assertions amid the quite that it appears to have been induced in transactions. But the apparent rejection at 1760 is all we have to go on for now which queries any expectation of Gold sustaining a rise beyond its current high circa 1758.


The Crow (-_-)
 
 
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  • Posted: Nov 24, 2022 6:16pm
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 1  /  Views: 254
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