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Gold Price Futures (GC) Technical Analysis – Closed Inside Key Retracement Zone at $1894 60 to $1870 30

Gold Price Futures (GC) Technical Analysis – Closed Inside Key Retracement Zone at $1894 60 to $1870 30
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Price of Gold Fundamental Daily Forecast - Edging Lower From One-Month High as US Dollar Firms

forecasts Price of Gold Fundamental Daily Forecast – Edging Lower From One-Month High as US Dollar FirmsThe news is mixed, volume is low and the holidays are coming. All of these reasons are encouraging profit-taking on Friday. Dec 18, 2020 12:24 PM GMT Gold futures are edging lower on Friday after hitting a one-month high the previous session. Profit-taking and position-squaring ahead of the weekend and next week’s holiday shortened week are likely behind the price action. The catalyst is stronger U.S. Dollar, which dampened demand for the dollar-denominated asset. The early price action suggests investors have fully-priced in a new fiscal stimulus deal. We could still see a spike to the upside when the deal is announced, but I think that is likely to be a bull-trap for those buying late in the move. Furthermore, at current price levels, I think there is more risk to the downside if the deal is delayed or if it fails completely.

What a Difference a Day Makes, as Market Sentiment for Gold Reacts to New Aid Proposal

forecasts What a Difference a Day Makes, as Market Sentiment for Gold Reacts to New Aid ProposalToday the bipartisan coalition which had originally presented an aid package of $908 billion announced a revision that has a much higher probability of being passed and implemented before the end of the year. Dec 16, 2020 08:13 AM GMT The new comprehensive aid package was broken into two separate bills; the first bill will require $748 billion and contains only the components that both democrats and republicans have already agreed upon. The second bill will entail $160 billion to fund the components that cause negotiations to a stalemate. According to CBS News, “Senator Joe Manchin, a moderate Democrat from West Virginia, placed two thick stacks of paper on the podium as he announced a comprehensive $748 billion measure, and an additional $160 billion for state and local funding.

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