XAUUSD News

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Last Updated Date: 11 June 2021 @ 6:25 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was up on Friday morning in Asia and is set for a small weekly gain. The slightly faster-than-expected rise in U.S. inflation drove investor bets that price pressures will be temporary and central bank support will remain in place.

Overall the market is bearish and yesterday’s break puts trade back into a bear stance, positioned for declines to test under 1871.0. A close under 1869.0 warns for a wash towards the 1844.0  low. Any congestion trapped to the lower half of yesterday’s range will remain aligned for selloffs. A close over 1909.0 is short term bullish.

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