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Gold Price: Supportive Risk-Off Rally on US-China Trade Fears

From dailyfx.com

Global growth fears and renewed US -China tension sent risk-adverse investors back into the sanctuary of Gold. Yesterday’s warning from the IMF that global growth was slowing, accompanied by downgrades from its October forecasts, cast a shadow over the WEF meeting in Davos, with the report highlighting ongoing trade tensions between the US and China as one of its biggest headwinds. Adding to the safe-haven bid, the US plans to proceed with extradition proceedings against Huawei CFO Sabrina Meng Wanzhou from Canada to answer charges of banking irregularities in violation of US sanctions against Iran. China responded ... (full story)

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  • Category: Technical Analysis