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Unchanged week for gold, price recovering today
Gold and the dollar are rising in today’s trading, while expectations grow for a further interest-rate cut by the U.S. Federal Reserve (Fed). The price of the yellow metal remains stable above the resistance level of $4,050.
[Souce: BullionVault]
Gold traded at $4,067, spot down 0.25%
A slight decline for the yellow metal today, although for now it is holding the resistance level at $4,060. The risk of a drop toward $3,950–$3,925 is materializing, which would deepen gold’s corrective move.
[Source: MilanoFinanza]
Strong dollar pushes gold into correction: US data awaited
Gold saw a slight decline in today’s trading, with the dollar strengthening as a Federal Reserve rate cut becomes increasingly unlikely. The intentions of the U.S. Central Bank will become clearer in the coming days, when U.S. economic data are released.
[Source: Market Screener]
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