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Gold Price Forecast: XAU/USD closes above the 20 and 200-day SMAs

From fxstreet.com

The Gold Spot price XAU/USD recovered some ground after finding support at the $1,915 area, jumping towards $1,920. However, the upside is limited as the expectations of one last Federal Reserve (Fed) hike grow in the markets. During the American session, it was reported that Initial Jobless Claims for the first week of September came in lower than expected. The figure came in at 216,000, lower than the expected figure of 234,000 and declining from the previous 228,000. The US Treasury yields, often seen as the opportunity cost of holding non-yielding metals, declined on Thursday and allowed the yellow metal to ... (full story)

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  • Category: Technical Analysis