Gold ABC Long Formation

FX:XAUUSD   Gold Spot / U.S. Dollar
225 0 2
Though The US recovery narrative continues to be supported by the overall market sentiment, the fundamentals of Gold             in supply and demand terms still suggest that gold             ought to go higher. Currently, gold             is in a bit of a bounce back mode from the $1200 support area . The technical ABC formation, coupled with the possibility that the Fed may fail to hike rates in early 2015, may suggest a possible reversal in the price of gold             to the upside.
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