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GOLD PRICE ANALYSIS 04 MAY 2023

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Last day after news, gold pushed down and faced rejection at 2008 level and later in evening it moved up. Today morning in Sydney session market opened with gape and when up to test 2067 level a yearly high level. After testing 2067 level market dropped immediately and now being traded at 2039 level. We will face more data release today and tomorrow. Now gold market is highly volatile so I think you should not trade gold for next two days due to high volatility and stay away from gold to keep safe your funds. we will look into gold again in next week and then there would be good opportunities to trade.

Right now gold is in daily neutral zone

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