XAUUSD MAY RETRACE BACK , OUTLOOK IS BEARISH
Gold is trading nearly flat on Thursday after testing an 11-week low earlier in the session, underpinned by a weaker U.S. Dollar and a slight dip in U.S. Treasury yields. Gold is currently trading inside a long-term retracement zone at $1787.30 to $1711.70. This zone represents value so we could start to see some bottom-picking.
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