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Gold hopes to snap losing streak this week but the technical picture remains poor

Gold hopes to snap losing streak this week but the technical picture remains poor
Gold has fallen in each of the last four days this week and looks set for a fourth straight weekly decline as well. It's not been pretty for gold prices since the middle of last month, upon testing resistance around $1,983. Since then, we've seen price fall back below its 100-day moving average (red line) and then its 200-day moving average (blue line) this week:There is a slight reprieve today but that owes much to falling bond yields, as seen here. But in the bigger picture, things are still n... Read More
Posted: Aug 18 2023, 07:18
Author Name: forexlive
Views: 102264

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