Gold prices has recovered after the release of the US inflation data, consequently weakening the dollar. Brexit vote has further strengthened the yellow metal, causing it to rise by 1.07% and settling at $1,304.
China continue to boost up gold reserve as part of its anti dollar push
On technical perspectives, in Fibonacci retracement current price is moving in 0.5% directing to
0.61 $1,310.49 as new Resistance line and $1,303.37 as support line.
And 20EMA is moving below the current price indicating to hold the price on bullish condition.
However , STochRSI is moving on overbought territory .
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