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XAUUSD News

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Last Updated Date: 9 August 2021 @ 5:50 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was down on Monday morning in Asia, after sliding as much as 4.4% to a more than four-month low. Strong U.S. jobs data increased fears that the U.S. Federal Reserve would hike interest rates and begin asset tapering earlier than expected.

Overall the market is bearish with a downside breakout likely sending trade to attack a 1611.0, when broke 1550.0 near term. Current corrective rebounds for next two days trapped by 1752.0  will maintain bear forces. However, a punch over last week’s high alerts for a possible flip to bottoming trade. 
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