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- Warren Bevan (based on investing.com)
Pair's Outlook
The yellow metal saw much volatility during Friday's trading session, as the metal fluctuated between the levels of 1,335.35 and 1,370.38. However, it managed to surge from 1,359.10 at the start of day's trading to 1,365.66 at the end of weeks trading. On Monday morning the yellow metal started this week's higher at 1,367.75, although it had fallen to 1,363.71 by 5:00 GMT. In the meantime, daily aggregate technical indicators predict a surge for gold. Although, the weekly forecast predicts no change for the metal this week.
Traders' Sentiment
SWFX traders have increased their bearish sentiment, as 66% of open positions were short at the start of the new week. In the meantime, pending orders in the 100-pip range are 65% long.
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