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Gold Bounces Off Key Support to Trade Closer to 100-Hour MA
On Thursday, the gold price bounced from the key support at about $2,625 to trade at about $2,638 after the latest U.S. data. The XAU/USD trades within a gently ascending channel formation in the 60-minute chart. The price of the yellow metal trades slightly below the 10-hour moving average line. As a result, the gold price also pulled back slightly to avoid rallying into the overbought levels of the 14-hour RSI. Gold Price Fundamentals Overview From a fundamental perspective, the XAU/USD trades during a relatively busy period in the U.S. market. On Wednesday, the U.S. personal consumption expenditures – price ... (full story)