Gold has been trending down since highs of September 2011 at $1920/oz. It's pullback from the December 2015 lows had taken XAU to $1375/oz which is also it's Fibonacci retracement of 38.2% on monthly charts.Early 2016 risk off sentiments and latter on Brexit helped price push higher.
Now there is a strong likelihood of Federal Reserve raising Fed's fund rates in December meeting which may cause a downward pressure on golds prices. A strong inverse relationship between the policy path implied in …
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