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Gold Prices Likely to Remain Range-bound

Gold Prices Likely to Remain Range-bound

David Rodriguez, Head of Product

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Gold– Retail traders have sold into the recent Gold price bounce versus the US Dollar, and a contrarian view of crowd sentiment suggests the XAU/USD exchange rate could trade higher.

Such a forecast comes with a heavy caveat, however; retail traders will often outperform in choppy and range-bound trading conditions. This fact is relevant because Gold continues to stick to a tight price range, and until this changes the majority of traders may continue to do well buying near range lows and selling near range highs.

See next currency section: DAX - German DAX Forecast to Strengthen Alongside S&P 500

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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via Twitter at http://www.twitter.com/DRodriguezFX

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

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