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Gold Price Futures Technical Analysis - May 16, 2019 Forecast

From fxempire.com

Gold futures are trading lower on Thursday, pressured by a jump in U.S. Treasury yields, a firmer U.S. Dollar and increased demand for risky assets. The catalysts behind the rally in these three markets are hope of a trade deal between the United States and China, and better-than-expected U.S. economic data. At 14:09 GMT, June Comex gold futures are trading $1291.10, down $6.70 or -0.52%. Long liquidation is also behind the selling pressure with many traders getting pulled into the market on so-called “safe-haven” buying due to geopolitical concerns. These traders are being forced to exit losing trades, adding ... (full story)

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