aslamhammad
Short

Gold Monthly

FX:XAUUSD   Gold / U.S. Dollar
137 0 2
Well it looks like bear flag formation monthly chart....
First support in it is around 1045 area...
Next month candle opens in December....If fed hikes rate even 0.10%, Gold             in that case can drop upto 977$.
Later there maybe also a second rate hike by U.S Fed Reserve Bank after the first one that's expected next month in December.

Next buying opportunity would be around 977$, possible upto 1044$ in a high demand scenario, else price by end of 2016 during U.S election time, price might go further down to 725$. As election stuff of U.S.A may boost $$$ demand :).
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