Dukascopy Bank Team
Dukascopy Bank SA
"China's gold reserves totalled 59.24 million fine troy ounces at the end of November, unchanged from a month earlier, the central bank said on Tuesday."
- Reuters
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Pair's Outlook
After respecting the 1,169.10 area for three consecutive sessions, the Bullion opened green with a takeoff from the month-long channel upper boundary. Upward movements were cut by the 1,178.21 weekly Pivot Point Thursday morning, and in case no significant market movers come into play, XAU/USD might remain squeezed in between the aforementioned levels. A surge above the Pivot Point leaves little to stick on to, as the next level of significance lies just at 1,195.73, while movements below the four-day trading range are likely to be limited by 1158.87. -
Traders' Sentiment
Positive sentiment shows that Gold is bought in 60% of all cases for the fifth consecutive session, and long pending orders also show no change with 68% of SWFX traders betting the metal will surge.
Interested in Gold technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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