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Daily Market Analysis By FXOpen
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[QUOTE="FXOpen Trader, post: 338582, member: 104606"] [B][SIZE=5]Price of Gold Briefly Exceeded $2,050 per Ounce[/SIZE][/B] [img]https://i.imgur.com/y45RPmy.jpeg[/img] In addition to new records in the stock markets, the reaction to yesterday's news about inflation in the US was also a decrease in government bond yields and a rapid rise in the price of gold — the cost of XAU/USD jumped by 0.9% in just one hour, while the day's high exceeded USD 2,050 per ounce . However, on Friday morning the price of XAU/USD dropped below USD 2,040 – did market participants misjudge the impact of US inflation on the price of gold? [B]XAU/USD chart shows that:[/B] → the price of gold is in a downward trend (shown in red); → yesterday, the price not only touched the psychological level of USD 2,050, but also reached the upper limit of the downward red channel. That is, both lines acted as a block of resistance, which appears to be a serious obstacle to the upward impulse (shown by blue lines). [img]https://i.imgur.com/TDDxoRC.png[/img] [B][URL="https://fxopen.com/blog/en/oa-price-of-gold-briefly-exceeded-2-050-per-ounce/?utm_source=tptforum&utm_medium=analysis&utm_campaign=resolve"]VIEW FULL ANALYSIS VISIT - FXOpen Blog...[/URL][/B] [I][B]Disclaimer:[/B] This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. [/I] [/QUOTE]
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