Gold Price News and Forecast: XAU/USD at yesterday’s high [Video]

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Gold: The outlook remains on a knife-edge [Video]

The outlook for gold remains on a knife edge. Following the rebound from $1693 on Wednesday the market has rallied back into the resistance around the $1722 pivot and a near term downtrend. Although the market closed positively yesterday, the candle hit the downtrend resistance and closed just under the pivot. Trading cautiously this morning, there is a real sense that this is a near term crossroads now. Picking up off a medium term uptrend on Wednesday and hitting the near term downtrend today, this Is a move that could be close to the bulls regaining control. However, the rebound has stalled today and needs to breach the downtrend (around $1724 today) but with a move above $1735 resistance at least needed to really suggest positive momentum is building again. Read more...