Gold Technical Analysis – The NFP report increased the bullish sentiment ...Middle East

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Gold Technical Analysis – The NFP report increased the bullish sentiment
Fundamental OverviewLast Friday, gold spiked to the upside following the US NFP report. The data showed some more labour market cooling with an increase in the unemployment rate and a decrease in wage growth. That made the real yields to drop and gold to accelerate to the upside. This has been the case for a couple of years now where a rise in real yields sees a much smaller fall in gold compared to a fall in real yields which triggers a bigger rally in gold. As of now, it looks like gold have limited downside but lots of upside as inflation abates slowly while risks to the growth picture increase the longer the Fed keeps policy restrictive. In the short-term, strong US data might weigh a bi

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