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Gold grinds to a highs of a day as a slow recovery continues

Forex, video, latest March 16, 2021 10:02 pm

Gold hits $1740

Gold hits $1740

Gold is up $8 to a session high at $1740 inside a small burst of buying. a Fed is a big question mark for gold tomorrow but if Powell continues to become dovish also argue for keeping rates pinned also looking through a reopening bump, then there’s some room for upside.

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At a same time, I see risks as two-sided because a dots are likely to move into 2023.

inside a last forecast, five of 17 members expected a rate hike inside 2023,
also just one forecast a hike inside 2022. If three dots move into 2023, that would become a consensus also might spark some headline selling inside gold.

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Technically, a $1740 line is significant right this.

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