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Sunday, November 8, 2015

GOLD UPDATES FOR NOV 8 2015

SUNDAY



WEEKLY UPDATE



Gold in international market last week dropped from 1140$ to close at 1090$, over all trend remains



very bearish and any close below 1180$ would be considered as short term breakdown which will give



a correction immediately up to 990$ with strong resistance above 1110$ and 1140$, the correction




in international market is mainly attributed with Janet Yellen remarks that interest rate hikes is




imminent in December month which forces traders to unwind their long positions, now that 1080 is the




key supports for market and we expect prices to break below the supports levels.



Weekly Call :




Sell International gold only below 1080$



with SL above 1110



for targets 1040 , 1020 and 1000(Positional)





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