Spot Gold Rate: The Gold (XAU/USD) price rose in its last intraday trading, taking advantage of the stability of the key support at $3,300, attempting to recover some of its previous losses, at the same time offloading some of its clear oversold conditions on the (RSI), especially with the beginning of the positive signals.
Spot Gold Rate is Rising Affected
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Despite this recovery, the price remains under negative pressure due to its stability below EMA50, affected by its exit from the bullish channel’s range that was supporting its trading on the short-term basis, which might limit the strength of the current rise, especially that the positive momentum has started to fade out temporarily.
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