The pair wasn't able to break the 23.60% fibo marked between 1118.8 and 1146 dollars per ounce. Traders expect that the trend could stay short until tomorrow, given the global weakness of commodities.The pair is now trading at 1124.22 dollars per ounce. The CCI is on neutral zone, as well as the 14 period RSI. The MACD could show selling signs in the next hour.

It was know today that the Bank of Russia gold reserves climbed, which shows that the precious metal demand is firm.

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