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XAUUSD Analysis: US Dollar Strength Did Not Prevent its Gains
Despite the strength of the U.S. dollar following the U.S. central bank announcement, the gold price remained within its recent gains which extended to the resistance level of $2056 per ounce, the highest for it in two weeks, before settling around the $2038 per ounce level at the start of Thursday's trading. Losses in the U.S. stock market had worsened after the Federal Reserve indicated it was unlikely to cut U.S. interest rates in March, as many traders had hoped. As a result, the 500 index fell 1.6% in its worst day since September. Its shares fluctuated between more modest and more severe losses during the ... (full story)