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    Gold Price News and Forecast

    Abstract:XAU/USD looks to retest $1,750 as risk dwindles
    shutterstock_1039333408.jpg

      The price of gold is on the backfoot despite a weaker US dollar at the start of this week and the prospects are for a significant correction to the downside.

      Failures at resistance have so far proven to draw in additional bearish flows and speculative shorts.

      TECHNICAL ANALYSIS

    XAU_USD

      Gold, daily chart

      The bulls are facing a wall of resistance and the price could be drawn to a restest of the prior support and a 61.8% Fibonacci retracement.

      Bears can engage from below hourly resistance.

    XAU_USD

      Gold, hourly chart

      Bears are in control below the hourly resistance after making a 38.2% Fibonacci retracement of the latest bearish impulse.

      POPULAR GOLD BROKER LIST

      AvaTrade

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