XAUUSD Consolidates, Correction Likely

Gold prices marked a modest recovery, rising 1.71% into Friday’s session close.

With the lower levels seeing higher demand, XAUUSD is firmly trading above the 1462 and 1483 levels.

The upside correction in the near term could see XAUUSD rising back to test the 1534 region, with further breakout likely to send gold towards the 1570 region.

For the moment, the downside looks to be solid in holding the commodity from further declines.

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“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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