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– Ronald Leung, Lee Cheong Gold Dealers (based on Reuters)
Pair's Outlook
On early Thursday morning the yellow metal's price headed higher, as the bullion reached the 1,288 level. Previously, on US Election Day the bullion's price jumped and hit the 1,337 level during the session. However, as the markets calmed down after the first media and previously biased forecast induced hysteria, the yellow metal moved lower and ended the day's trading session at 1,280.82, which is only 0.16% higher than the opening. Once could say that the metal remained flat during the election. Although, it is still possible that the bullion will rise, as president Trump reveals his plans.
Traders' Sentiment
SWFX traders remain bearish, as 56% of open positions were short on Thursday morning. However, 60% of trader set up orders were to buy gold.
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