Gold has been well-bid in the past few days as expectations about Fed rate hikes have been pushed further away, with some even questioning whether the QE programme will indeed end this month. Until we’ll see clearer signals from the Fed, USD bulls will probably remain wary and given the crowded positioning, we could see a further squeeze. The same goes for Gold, which is slowly approaching the $1250 level again and a breakout above would pave the way for $1280 and eventually $1320.
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