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Gold (XAU/USD) Price Forecast: Faces Bearish Pressure, Eyes on 10-Day Average
Gold slipped toward a test of support at the 10-Day average, with fading momentum and bearish divergence raising risks of a deeper pullback toward the $3,627–$3,609 zone. Gold slipped on Wednesday, completing a one-day pullback marked by a lower daily high and low. Sellers remain in charge at the time of writing, with trading leaning toward a red close near the session lows. That keeps the metal on track to test support around the 10-Day moving average at $3,686, a level that also coincides with this week’s low of $3,684. Notably, the prior pullback earlier this month also found support around the 10-Day line. ... (full story)
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