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XAUUSD News

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Last Updated Date: 6 May 2021 @ 6:25 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was up on Thursday morning in Asia as investors await the U.S. non farm payroll data due Friday. The benchmark 10 year US Treasury yield edged higher as trading started in Asia, also giving the yellow metal a boost.

The market rallies in the middle of this week hint for a short term trend shift to the upside. Look for attempts to extend rallies, but trade will need to post a close over 1799.0 to attack the previous swing high peaking levels. Be careful for secondary dips and congestion just under 1780.0. A close under 1770.0 (SAR) is bearish and suggests a selling wave to new lows and possibly 1755.0.

 

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