Gold Prices Forecast to Fall Further
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Gold – Retail forex traders continue buying into Gold price weakness, and a contrarian view of crowd sentiment leaves us firmly in favor of further XAUUSD declines.
Trade Implications – Gold: Crowds have remained steadily long Gold prices since the precious metal traded below $1350 on October 28, and we anticipate continued drops until we see a significant shift in sentiment.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.