Gold hit 1233 which was last seen on 23 and 26 of Sept, falling after the positive unemployment claims figures were released to bolster the USD’s status
Support for the uptrend at 1220 will likely see Gold retest 1225. 1230. Stochastics show that gold has been oversold though
A retracement is likely as the moving averages dip, with supports 1215 1208 to watch should gold plunge yet again and go below 1200 levels
Uncertainty over the timeline and start of implementation of the rate increase by the Fed, Gold rallies to the high of the 3rd week of Sept at 1233 as investors seek alternatives.
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