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  • Major investment bank models have touted USD selling, given the outperformance in US equities relative to its counterparts over the past month. How is this likely to impact the month-end rebalancing? Find out from @JMcQueenFX here:https://t.co/MtNrHmXZpD https://t.co/YvoHlUsdVr
Gold Prices May have Turned the Corner

Gold Prices May have Turned the Corner

2015-09-24 16:00:00
David Rodriguez, Head of Product
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Gold Prices May have Turned the Corner

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See a video on why we use the Speculative Sentiment Index as a contrarian indicator in our trading

Gold – Retail FX traders have recently turned net-short Gold prices, and a contrarian view of crowd sentiment suggests XAU/USD may continue to trade higher. Short-term targets are now seen at multi-month highs near $1170. A break higher would help confirm an important shift in the near-term Gold price trend.

See next currency section: EURUSD - Euro Likely to Test Key Near-term Resistance

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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