Gold finds support at $2,633 and awaits break above $2,652
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As markets wait for 3rd Rate Cut by Fed, Gold recovers from $2633 lows.
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Further upside requires break above $2650-$2652.
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Next resistance sits at $2663 followed by $2677.
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Below $2633, next downside potential is $2620.
Yesterday's decline to $2633 attracted some buying and today's trading witnesses recovery attempts currently facing resistance at $2652 which bulls need to clear through in order to extend recovery towards next hurdle $2663
If there is enough buying momentum above $2663, expect rebound extending to turning point $2677 where sellers are likely to resurface.
On the flip side, if immediate support $2643-$2641 is breached, the metal is likely to retest $2633 below which sellers will try to push lower for $2620
Meanwhile, markets are likely to remain sideways with relative volatility on Fed's rate announcement that will give further clues to Dollar direction.
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