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Gold (XAU/USD) Price Forecast: Volatility Signals Near-Term Pullback Risk
A bearish outside day triggered in gold on Thursday, setting the stage for a possible pullback to lower prices or consolidation. The precious metal is set to have its first down day in nine days and end the pattern of higher daily lows that partially defines the short-term uptrend. Thursday's session began with a breakout to a new record high of $5,598, before sellers took back control and drove the price below Thursday's low to $5,101. Heightened volatility seen in the relatively large range day Thursday, shows price discovery expanding the price range. This implies that consolidation within the day's range may ... (full story)