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Gold Holds Strong Against US Dollar Strength
The gains of the US dollar halted after data showed a less-than-expected increase in private sector employment in the United States. Thus, this data boosting optimism that the Federal Reserve would begin cutting interest rates sometime early next year. Recently, this allowed the gold price (XAU/USD) to stabilize around the $2035 resistance level. Currently, Gold prices faced profit-taking selloffs after testing their all-time high at the beginning of the week when they jumped above the $2135 resistance level per ounce. In this regard, Craig Erlam, Senior Market Analyst at OANDA, states, "It seems that gold ... (full story)