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  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:https://t.co/l4kAWDrr7M https://t.co/nmP0MX8LGM
  • 🇯🇵 Core Inflation Rate YoY (AUG) Actual: 0.0% Expected: 0% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-09-23
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  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:https://t.co/TK3MNntBdA https://t.co/T6CPbFLv9f
  • RT @FxWestwater: $AUDUSD, $AUDJPY Surge Despite Rising Treasury Yields, Looming Evergrande Risks Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/23/AUDUSD-AUDJPY-Surge-Despite-Rising-Treasury-Yields--Looming-Evergrande-Risks.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.c…
  • Heads Up:🇯🇵 Core Inflation Rate YoY (AUG) due at 23:30 GMT (15min) Expected: 0% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇯🇵 Inflation Rate Ex-Food and Energy YoY (AUG) due at 23:30 GMT (15min) Previous: -0.6% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇯🇵 Inflation Rate YoY (AUG) due at 23:30 GMT (15min) Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇬🇧 Gfk Consumer Confidence (SEP) Actual: -13 Expected: -8 Previous: -8 https://www.dailyfx.com/economic-calendar#2021-09-23
Gold Price Still at the Fibonacci Level…Still Under Pressure

Gold Price Still at the Fibonacci Level…Still Under Pressure

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price Still at the Fibonacci Level…Still Under Pressure

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The 2011-2012 trendline was resistance after the election. Gold continues to trade around the 61.8% of the rally from the December 2015 low, which is a natural level for the market to react. 1200-1225 is near term resistance and needs to give way in order to turn positive for something bigger. Until then, additional downside can’t be dismissed into the 1120s or so.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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