#XAU/USD# #trading#
Gold prices moved higher on Tuesday, ending up $5.47 at $1794.16 as it was triggered by the weakening US dollar sentiment behind the prospect of lower US inflation.
Gold is likely to be sold this morning (10/8), testing the support at $1787 amid the outlook for a rebound in the US dollar on the back of the still maintained prospect of a rate hike by the US Federal Reserve. However, if it moves up until it breaks above the $1798 level, there is a chance to buy aiming at the resistance at $1800. Potential Asian session trading range at $1787 - $1800.
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