16.06 - Gold off highs as US dollar trims losses

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gold1606The solid recovery staged by Gold (XAU/USD) from near 1700 levels lost leg once again below the critical resistance at 1735, as the prices look to extend the reversal heading into European trading.

At the press time, gold trades modestly flat around 1726.50 levels, having breached the crucial resistance-turned-support at 1727.35, the confluence of the 50 and 100-hourly Simple Moving Average (HMA).

 

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