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Gold Outlook: XAU/USD Closes Below 4,000 for the First Time Since October
Gold futures saw a daily close below 4,000 for the first time since October on Thursday. And it didn’t take much of a rise in the US dollar for gold bears to enjoy their breakout. The US dollar index rose just 0.17%, recouping less than a third of the losses accumulated over the previous two days. I had already noted that gold appeared vulnerable to a break lower, given bulls had failed to make any impact despite the US dollar falling a full 1% on Tuesday and Wednesday. Gold’s losses weren’t limited to the US dollar either, as it fell against all major currencies by at least 1.6%. Using gold as the benchmark, ... (full story)
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Trader#21C3
19 hr ago
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